The Federal Government has announced plans of a partnership with the World Bank and International Financial Cooperation (IFC) on staff capacity building and infrastructural development for Free Trade Zones in the country. This according to the Acting Managing Director, Nigeria Export Processing Zones Authority (NEPZA), Mr Bitrus Dawuk, in a statement will help in attracting more Foreign Direct Investments (FDIs) to the Nigerian economy.
Addressing World Bank and the IFC delegation who paid him a courtesy visit in Abuja, Dawuk explained that one of the bottlenecks militating against optimal performance of free trade zones was NEPZA’s obsolete legislation. According to him, the legislation is in the process of being amended by the National Assembly.
He said: “NEPZA is ever ready to work with the World Bank and the IFC in giving Nigeria world-class free zones. “There are already measures in place to review the outdated regulations of NEPZA to make it more favourable for foreign investors to come in and invest in the country.
“I will be on your neck from now on, especially in areas of training of my staff for optimum performance,” he said.