The African Free Trade Zone Association has urged the Federal Government to review the Free Trade Zone (FTZ) Act ?to reflect the current realities in the sector.
Mr Chris Ndibe, the association executive secretary, told the News Agency of Nigeria (NAN) in Lagos on Sunday that government should also assist operators of the zones to access credit facility.
He said that this would attract investors and boost local production as well as enhance the socio-economic development of most zones.
The secretary, who said that securing?funds?for export manufacturing companies was not easy in Nigeria, urged the government to provide assistance to ensure development of the zones.
Ndibe expressed the need for the Minister of Trade and Investment, Mr Olusegun Aganga, to take over the affairs of the zones to align its operation with international best practice.
“At the continental level, Ghana is doing it; the chairman of the board of Free Trade Zone in Ghana is the Minister of Trade.
“ In the U.S. the chairman is also the Minister of Trade.
“It is the same thing in China, while most countries are moving forward in free trade zones development, a lot still needs to be done on the constitution of the board,’’ he said.
Ndibe said that experts should be appointed as members of the board and not politicians to avoid unnecessary delays in decision-making.
?Mr Adesina Agboluaje, the Managing Director, Nigerian Export Processing Zones Authority,?also stressed the need to sustain growth in the?zones for the nation’s economic development.
He noted that the U.S., a well-developed economy, has about 628 FTZs because of the importance of zones to the growth of any nation’s economy.
Agboluaje said that UK recently established additional 24 enterprise zones, adding that there was still room for Nigeria to improve.
According to him, every country needs to create jobs for its people as a way of sustaining economic growth.
“This is one of the reasons for having FTZs.’’
He said the FTZs welcomed the initiative of the Minister of Trade and Investment to reform them. ??
Agboluaje said that President Goodluck Jonathan’s considerable interest and commitment towards the progress of???FTZs was vital to sustain the growth of the zones.
He said that the zones had increased from 23 to 25, with Ibadan and Akwa-Ibom as the latest two additions.
Agboluaje said that recently one of the FTZs launched a fabrication plant worth about 1.5 billion dollars, adding that the zones had so far created about 1,800 job opportunities.(NAN)