No controversy over status of Nigeria SEZ Investment Company – Presidency - The Nation Nigeria

Mr Femi Adesina, the Special Adviser to the President on Media and Publicity, stated this in a statement in Abuja on Wednesday.

He added that the Project MINE was envisioned by the Federal Ministry of Industry Trade and Investment to develop SEZs to world-class standards and position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally.Lack of operating competitiveness that limits the growth of the zones, despite the presence of generous fiscal and regulatory incentives.

-Increase and diversify foreign exchange earnings to at least US$30bn annually by 2029, by increasing manufacturing sector exports; Create an enabling environment for SEZ businesses by instituting best in class legal and regulatory frameworks, using technology and streamlined processes to facilitate movement of people, goods and capital and easy access to government services, approvals and permits.’’

“By aggregating and harnessing FG’s investment in a strong corporate special purpose vehicle, NSEZCO will facilitate the mobilization of additional capital from development finance institutions and private investors. Ministry of Finance Incorporated is the shareholder, holding the FG’s interest of 25% in NSEZCO.

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