Ekiti State Government has sealed a partnership deal with the Nigeria Export Processing Zones Authority (NEPZA) to establish a Knowledge-based and Agricultural Special Economic Zone in the state.
Recently, Ekiti State Governor, Dr. John Kayode Fayemi met with the Managing Director NEPZA, Adesoji Adesugba, who expressed the agency’s willingness to license the proposed zone.
This laudable move is part of Governor Fayemi’s strides in developing the Agric sector of the state’s economy.
While speaking during the meeting, Governor Fayemi said NEPZA was critical to the country’s quest to attract investments, local production, and industrialisation as revenue generation through Foreign Direct Investment (FDI).
The governor mentioned that there was the need to think outside the box in order to drive the process in the state instead of always talking and making references to FDI without necessary plans on ground.
“It is indeed crucial that we recognize and disaggregate those investments in terms of sub-national opportunities at the state level.
“For us in Ekiti we arguably have comparative advantages in the areas of scholarship and agriculture. We are very keen in our knowledge economic agenda to have a status of a special economic zone which is going to be the first service oriented zone,” he said
According to the MD NEPZA, for the states to be industrialised, they must go back to the basics. It is important that states have industries and good investments, he added.
He added that there was the need to leverage on China, Dubai, Ethiopia and Turkey as success models for special economic and free trade zones.
He said developing economies were using this strategy to fast-track industrialisation, urging other State Governments to key into the scheme.
Last modified: September 9, 2020
