NEPZA, Borno Partner To Resuscitate Banki Trade Zone
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NEPZA, Borno Partner To Resuscitate Banki Trade Zone
By Alabidun Shuaib AbdulRahman
The Nigeria Export Processing Zones Authority, NEPZA has pledged support for the Borno State Government to revive the moribund Banki Free Trade Zone, describing the facility as critical to boosting economic activities in the North-East.
The Managing Director and Chief Executive Officer of NEPZA, Dr Olufemi Ogunyemi, made the commitment during a courtesy visit by the Borno State Governor, Babagana Zulum, in Abuja.
Ogunyemi said the Banki Border Free Trade Zone, which had remained inactive due to flooding, insecurity and funding challenges, required urgent overhaul to restore its strategic role as an economic gateway between Nigeria and countries in the Maghreb region.
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He noted that NEPZA would deploy its expertise in attracting Foreign Direct Investment, FID and providing technical support to reposition the zone for optimal performance.
“We have agreed to leverage our expertise in attracting Foreign Direct Investment and providing technical assistance to transform this business ecosystem that has significant potential to economically empower the North Eastern region of our country,” he said.
The NEPZA boss added that revitalising the zone would enhance cross-border trade, create jobs and strengthen Nigeria’s non-oil export drive.
In his remarks, Zulum expressed satisfaction with the Authority’s commitment, stating that the state government was ready to invest heavily in the reconstruction and expansion of the zone.
“The state is prepared to make substantial investments in the zone and develop the essential physical infrastructure as we work to bring prosperity closer to our people,” the governor said.
He also commended President Bola Ahmed Tinubu for backing the free trade zone scheme, describing it as a viable path to industrialisation and economic growth.
Meanwhile, the Chairman of the NEPZA Board, Tijjani Yahaya Kaura, assured that the newly inaugurated board would ensure the Authority fulfilled its mandate of promoting non-oil exports through the free trade zone scheme.
Kaura, who spoke at the board’s maiden meeting in Abuja on Tuesday, said members were committed to advancing Nigeria’s export-driven agenda.
“All the board members are pleased with their appointments, and we must thank the president for his leadership in helping us pursue the country’s export-driven ambitions,” he said.
