NEPZA threatens to revoke inactive free trade zones

The Nigeria Exports Processing Zones Authority (NEPZA) has threatened to revoke the license of inactive Free Trade Zones in the country.

The Acting Managing Director, Terhemba Nongo, said this on Wednesday in Abuja in an interview with journalists.

He said going by the importance of free trade zones in attracting foreign direct investment and economic diversification, government would no longer watch the laxity at which those given the licences were treating the zones.

He threatened that any free trade zone in the country that remained inactive within the next one year would have its licence revoked by the government.

There are about 20 inactive free trade zones  in the country according to NEPZA.

Some of the inactive free trade zones in the country according to NEPZA are Abuja Technology Village Free Zone, Ibom Science and Tech Free Zone located in Akwa Ibom State, Olokola Free Trade Zone in Ondo amd Ogun State, Living Spring Free Zone in Osun State.

There is also the Centenary City in Abuja, Enugu Industrial Park, Tomaro Industrial Park located in Lagos, Ogogoro Industrial Park in Lagos, Oluyole Free Zone in Oyo and Kwara Free Zone, among others.

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