Trade Ministry Clarifies Status of Special Economic Zone Company - THISDAYLIVE

Following the altercation between the Minister of Trade, Industry and Investment, Okechukwu Enelamah, and the Senate last Monday over the controversial Special Economic Zone Company , which led to the rejection of the ministry’s 2019 budget estimates by the Senate, the ministry has insisted that the company is genuine.

However, in a statement issued yesterday to clarify the status of the ‘SEZ Company’, the Special Adviser to the minister on Strategy and Communications, Mr. Bisi Daniels, said the company was a presidential initiative incorporated as a special purpose vehicle to deliver Project MINE . “We wish to restate that NZESCO was incorporated as a special purpose vehicle to deliver Project MINE which is a presidential initiative. The Federal Government’s Economic Recovery and Growth Plan identified the development of Special Economic Zones as a major strategic tool to accelerate the implementation of the Nigeria Industrial Revolution Plan .

“Indeed, Project MINE was necessitated by the following factors, which include lack of operating competitiveness that limits the growth of the zones, despite the presence of generous fiscal and regulatory incentives. For government-owned SEZs, there were limited federal budget allocations to make the required investments in infrastructure, operations and management services.

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Senate uncovers ‘illegal’ firm under Industry Ministry - The Nation NigeriaThe Senate Committee on Trade and Investment on Monday uncovered a Special Economic Zone firm allegedly floated illegally by the Ministry of Industry, Trade
Fonte: TheNationNews - 🏆 6. / 69 Consulte Mais informação »

Senate uncovers ‘illegal’ firm under Industry ministry - The Nation NigeriaThe Senate Committee on Trade and Investment claimed yesterday it has uncovered a Special Economic Zone firm allegedly floated illegally by the Ministry
Fonte: TheNationNews - 🏆 6. / 69 Consulte Mais informação »

Ministry speaks after Senate says private company listed in 2019 budget as govt agencyHours after the Senate Committee on Trade and Investment rejected its 2019 Budget proposal of N15.63 billion, the Ministry of Trade and Investment has clarified the status of the Special Economic Zones Company.
Fonte: PremiumTimesng - 🏆 3. / 78 Consulte Mais informação »

Senate rejects Trade and Investment Ministry ‘s 2019 budget - Vanguard News NigeriaThe Senate Committee on Trade and Investment has rejected the ministry’s 2019 Budget of N15.63 billion.
Fonte: vanguardngrnews - 🏆 5. / 75 Consulte Mais informação »