Sir: Gradually, the grandiloquence narrations of the acclaimed outright under-performance of the Nigeria’s Free Trade Zones’ concept in the last 29 years of its adoption to drive the country’s industrialisation is being obliterated by new crop of data mavens using the latest digital infrastructure to capture, analyse and measure the contributions of this concept to the country’s Gross Domestic Product and national growth more succinctly.
Successive management teams of the Authority had ensured that this concept that provides the filaments for this special business ecosystem is guided; leaving the country with two public zones and 43 private zones harbouring over 500 enterprises with cumulative investments worth over US 20 billion dollars, and accelerating employment generation hovering around 50,000 direct jobs and about 100,000 indirect jobs respectively.
Adesugba, a thoroughbred Professor of Business Administration and a tested Investment Promoter, has in the last one year focused on unmaking and tweaking the nation’s free zone susceptibilities by also widening the scope of search for innovation, business quality control mechanism and other forms of sophisticated approaches that could transform the country’s free zones into genuine business destination hot spots.
Free Trade Zone refers to an area enclosed by a fence or wall with supervised entry and exit points where certain economic fiscal advantages are granted to facilitate world market trade,’’ Adesugba said.
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