Enugu Free Trade Zone takes off with N240b foreign investment, targets 30,000 workers?

7 years ago

Enugu Free Trade Zone takes off with N240b foreign investment, targets 30,000 workers?

In line with the Federal Government’s commitment to diversify the country’s economy, Enugu, the coal City State, will on Thursday, play host to numerous investment groups for the ground-breaking ceremony of the ENPOWER Free Trade Zone.
The Government said the event would hold at the Akanu Ibiam International Airport, Enugu, where over 50 hectares of land had been mapped out.

President Muhammadu Buhari’s government had in December 2015 officially issued Enugu with a license formally declaring two areas in the State as free trade zones.

At a joint press briefing jointly addressed on Tuesday by the State’s commissioner for commerce and industry, Hon. Sam Nwobodo and Engr. Emeka Eneh of the Oil Data, who is leading a consortium of other companies, they stated that a total of N240billion worth of foreign direct investment had been secured for the Enugu Free Trade Zone.

They further stated that activities of six cluster groups that would be hosted in the trade zone would also create at least 30,000 jobs at the initial stage.

According to them, “We have been pushing for a free trade zone in the South-East, it became a reality in December 2015 when the Federal Government finally gave approval and issued the license.

“The free trade zone will mop-up unemployed youths in the South-East zone, boost economic activities and help the entire region and beyond to overcome their economic challenges.

“ENPOWER is already affiliated to full voting member, to the Dubai-based World Free Zones organization, (WorldFZO) and the Africa Free Zones Association.

“The investment promoters intend to provide uninterrupted power supply via embedded power arrangements, certify the free zone’s infrastructure and operations to globally accepted standartds.

“The free trade zone shall operate as a one-stop investment destination by integrating all free zone operations with the documentation and cargo handling customs, immigration, administration processes to achieve an ‘Ease of Doing Business’ rating equivalent to that of Dubai.”

They further disclosed that the ENPOWER Free Trade Zone was designed to accommodate up to 5000 companies located in two areas within the 9th Mile Industrial Area and the Akanu Ibiam International Airport, Enugu.

“Through the North-East rail line, the Trade Zone also offers export-processing opportunities for farmers and agro-allied producers in the Northern part of the country to harness, upgrade and convert farm produce to finished goods.

“The first set of investors, with proposals for investment, includes Air Stream Aviation Company, which has committed to setting up a maintenance, repair, and overhaul facility for all the services relating to assuring aircraft safety and airworthiness.

“Also, Ethiopian Airlines has committed to setting up a regional Air Cargo hub at the Akanu Ibima airport to support operations of ENPOWER Trade Zone.

“Zetor Tractors has committed to setting up an agricultural tractors manufacturing/assembly plant with an initial capacity of 3000 units per annum for both Nigerian and export markets”, they further stated.

Meanwhile, Governor Ifeanyi Ugwuanyi had earlier declared that: “the collaboration between government and the private sector in the Free Zone will not only benefit Enugu’s economy but provide a wider economic impact in the region.

“The aspiration of the Free Trade Zone is to leverage investment that will create jobs, enhance productivity and generate revenues for all stakeholders in the Nigerian economy.”