The Minister of State for Industry, Senator John Owan Enoh, has harped the importance of delivering impactful performance that directly benefits the Nigerian people.
He described this as central to fulfilling the core mandate of agencies under the Federal Ministry of Industry, Trade, and Investment.
Speaking on Thursday, during a meeting with the top management of the Nigeria Export Processing Zones Authority led by its Managing Director/CEO, Olufemi Ogunyemi, Senator Enoh stressed the need for focused efforts on industrial policies that align with the Renewed Hope Agenda of the present administration.
“The Nigerian people must feel the impact of the work we do. I urge you to prioritise initiatives that bring tangible benefits to citizens while supporting the country’s industrial growth.
“Together, we can achieve these shared goals,” the Minister was quoted as saying in a statement made available to our correspondent and signed by his
Special Adviser on Media Diana-Mary Nsan.
Enoh also pledged to collaborate closely with NEPZA’s leadership to enhance the authority’s effectiveness and called for sustained engagement to achieve these objectives.
In his briefing, Ogunyemi highlighted NEPZA’s commitment to repositioning itself for growth and excellence.
He outlined key achievements, including the expansion of Free Trade Zones and clusters to 55 across the country, which has created 13,720 jobs.
“In line with the Renewed Hope Agenda, we have recorded significant milestones,” Ogunyemi said.
“This year, we facilitated the establishment of the Lekki Deep Sea Port within the Lagos Free Trade Zone in record time and secured $1 billion in foreign direct investments.
“Additionally, the Free Trade Zones contributed N425 billion in customs duties to the Nigeria Customs Service,” he said.
Ogunyemi also revealed ongoing collaborations with the Securities and Exchange Commission, the Nigeria Stock Exchange, and other stakeholders to draft regulations that would allow Free Zone Enterprises to list on the Nigerian Stock Exchange.
“This initiative will enable free zone entities to access additional financing through the capital market, contribute to the market’s growth, and strengthen NEPZA’s regulatory oversight,” he explained.
However, he appealed for the Minister’s support in addressing several challenges, including outdated legal frameworks, inadequate infrastructure, limited understanding of the Free Trade Zone concept, and difficulties accessing foreign exchange.
“We remain committed to overcoming these hurdles and ensuring NEPZA continues to drive economic growth and attract investments,” Ogunyemi assured.
