By Kola Alhassan
Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Prof. Adesoji Adesugba said the Federal Government created 43 free trade zones across the federation not only to create employment opportunities, but to curb youth restiveness.
A Free Trade Zone is a category of the special economic zone. It is areas where goods may be landed, manufactured and re-exported under specific customs regulation.
It was gathered that goods processed export from free trade zones are not subject to customs duty. Free trade zones are established around major seaports, international airports, and national frontiers.
Adesugba, who spoke in Lagos during a forum organised by the Nigerian-American Chamber of Commerce (NACC),noted that free trade and special economic zones provide solutions to boost the non-oil sector.
The forum was titled:” Non-oil exports: Situation report and way forward”.
He stated that the free trade zone is a veritable tool to tackle unemployment, while improving exports of non-oil products.
Adesugba also said the free trade zones would encourage skill acquisition,technology transfer and attract foreign investment, among others.
The NEPZA boss was represented by Assistant Director, Mr Augustine Onyekwelu.
President of NACC, Dame Adebola Williams, who lamented the nation’s over-dependence on crude oil,noted that there is a serious global campaign towards utilising green and renewable energy.
