Nigeria Free Trade Zone @ 30: Milestones and Prospects for Inclusive Industrialisation
By Martins Odeh/Golda Ukomadu, The decision of our past governments leading to the adoption of the Free Trade Zones Scheme, a global economic model to aid widespread economic growth on November 30, 1992 has to this moment remained a legendary step toward fast tracking the country’s industrialization. The operation of the free trade zones is deliberately incentivized to stimulate Foreign Direct Investments (FDIs); Domestic Direct Investments (DDIs); employment generation; infrastructure development; technology transfer; skill transfer to boost the country prosperity profile. The scheme was first adopted through the enactment of the Nigeria Export Processing Zones Authority (NEPZA) Act 63 of…
