Governor Babajide Sanwo-Olu has called for greater collaboration among government agencies, investors, and industry leaders to accelerate the development of Special Economic Zones (SEZs) in Nigeria.
The Governor made this call in a statement delivered by Folashade Ambrose-Medebem, the Honourable Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, at the 3rd Special Economic Zones Annual Meeting held today at Harbour Point in Victoria Island, Lagos.
The 3rd SEZ Annual Meeting serves as a crucial platform for stakeholders to discuss new opportunities, share best practices, and tackle the challenges facing Nigeria’s economic zones.
In his address, Sanwo-Olu emphasised the pivotal role of SEZs in driving industrialisation, attracting foreign direct investment (FDI), and generating employment opportunities in Nigeria.
“Special Economic Zones remain crucial for driving industrialization, attracting foreign direct investment, and creating jobs,” Sanwo-Olu said.
He also highlighted the importance of partnerships between key organisations such as the Nigerian Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA), recognizing their regulatory efforts in ensuring a conducive environment for businesses.
“The collaboration between NEPZA, OGFZA, and NEZA is essential for enhancing the efficiency of our Special Economic Zones,” the Governor stated.
Sanwo-Olu reflected on the significant strides Lagos has made in establishing itself as a commercial and economic hub in Nigeria, emphasising the vital role of SEZs in sustaining this growth.
“Lagos remains the economic and commercial hub of Nigeria, and our Special Economic Zones will continue to play a central role in its growth,” he added.
Despite these achievements, the Governor pointed out that critical challenges remain. He urged stakeholders to address gaps in infrastructure and access to financing, which are necessary to maintain the global competitiveness of Nigeria’s SEZs.
“While we’ve made remarkable progress, challenges such as infrastructure gaps and financing access must be addressed to maintain our global competitiveness,” Sanwo-Olu stressed.
The Governor also called for continued policy reforms to make the SEZs more attractive to investors. He harped on the need for sustained dialogue and engagement to ensure the continued success of SEZs across the country.
“The future of our Special Economic Zones is bright, but it requires continued commitment, collaboration, and innovation from all stakeholders,” Sanwo-Olu said.
“With your continued support, we are confident that our SEZs will become a model of economic excellence, fostering prosperity for generations to come,” he concluded.
Recall, the Deputy governor, of Lagos, Femi Hamzat had presented the Regulatory Authorities Award to Managing Director of Oil and Gas Free Zones Authority, Bamanga Jada at the welcome dinner of the event on Wednesday in recognition of his agency’s unwavering commitment to regulating and facilitating the growth of Special Economic Zones in Nigeria.
