Homepage - Online Entertainment and Lifestyle Magazine in Nigeria
www.happenings.com.ng
NEPZA Licenses Three New Free Trade Zones
Featured

NEPZA Licenses Three New Free Trade Zones

The Nigeria Export Processing Zone Authority (NEPZA), has disclosed that the Authority has licensed three new Free Trade Zones (FTZs).

The Managing Director Hon. Emmanuel Jime, disclosed this in his Christmas message, made available to newsmen.

Jime, gave the names of the new FTZs as Nasco Town FTZ, Quit Aviation Services FTZ and Tomaro FTZ.

He said that besides netting over $2.751 billion in Foreign Direct Investment (FDI) inflows, the new FTZs are targeting direct jobs in excess of 50,000.

“Under my stewardship, we have so far been able to license three new industrial parks i.e. Nasco Town Free Zone, which is valued $2,086 billion. It is estimated, at completion, to be able to provide 15,000 direct jobs.“The second is Quit Aviation Services Free Zone, valued at $215 million, and is estimated to provide jobs in thousands. And there is Tomaro Industrial Park in Lagos, valued at $450 million. It will also provide jobs running into thousands.”

He further disclosed some challenges he met upon assumption of office, to include low morale among staff, inter-agency rivalry, delayed promotions and poor investor-confidence, all of which he said he had been able to make appreciable impact on with the support of his management team.

He also denied speculations that the Authority had padded its 2018 budget estimates.“I wish to state clearly, categorically and emphatically, that any story about a padded budget or a bloated personnel cost by the Authority is false and misleading. NEPZA has neither padded her budget proposal nor bloated its personnel cost.

“Although the stories mentioned figures here and there, both failed to state clearly that the figures were queries from the senators to which the NEPZA leadership gave clear, detailed and satisfactory explanations.

“It is true that the personnel cost in NEPZA’s 2017 budget is N638 million and the proposed budget for 2018 is N710 million, but it is grossly incorrect to insinuate or suggest that the ‘budget was over-bloated’ or state that ‘there is a N205 million surplus discovered’ in the 2018 budget estimates of NEPZA.

“Personnel costs of government agencies, NEPZA inclusive, are domiciled with the Office of the Accountant-General of the Federation (AGF), and NEPZA has no access to the fund as members of staff are paid directly through the IPPIS.”

“The Authority wishes to state further that the Authority’s gross monthly salary figure is over N53 million. Staff pensions, PAYE, NHIS and other deductions are made at source at the Office of the Accountant-General of the Federation (AGF).“It is only the net of these deductions that enter into NEPZA’s account at the Central Bank of Nigeria (CBN).”