The Nigeria Economic Zones Association (NEZ Association) says it is basking in the friendly business climate built around the country’s Free Trades Zones by President Muhammadu Buhari.
Chief Oluwatoyin Elegbede, Executive Director of the association, made the remark after conducting routine visits to some of the zones in the country.
A statement issued on Friday in Abuja by Miss Chidinma Udeogu, Corporate Service Manager of NEZ Association, quoted Elegbede as commending the Nigeria Export Processing Zones Authority (NEPZA) for turning around the free trade zones.
Elegbede expressed happiness that NEPZA management led by Prof. Adesoji Adesugba was carrying out drastic turn-around of the special economic enclaves as directed by the president.
“We have watched with keen interest the management of the Free Zones in Nigeria by the Prof. Adesoji Adesugba administration at the NEPZA, made possible by President Muhammadu Buhari.
“We wish to commend Prof. Adesugba and his team for the recent spate of project development in the public zones and the renewed vigour in promoting investments into the zone by the authority.
“Of particular mention is the recent dispute resolution bringing to an end years of business war between two of our prominent members LADOL and Samsung.
“Adesugba in carrying out the directive of the president to end the five years squabble, swung into action to ensure amicable settlement of the dispute.
“That would unlock over 300 billion US Dollars investment value in the long term and about 7 billion US Dollars in the short term in our country,” Elegbede said.
He said that the end of the dispute would also re-ignite employment generation and economic development as promised by the president.
“We, therefore, will like to use this opportunity to specially thank the president for directing all the relevant agencies to find a solution to the disputes.
“Also, worthy of note are the Chief of Staff to the President, the Minister of Industry Trade and Investment, Otunba Niyi Adebayo; the Minister of Transportation, Rotimi Amaechi, and the Attorney-General of the Federation, Abubakar Malami.
“Others are Mr Bello Koko, Acting Managing Director, Nigerian Ports Authority; the Nigerian Ambassador to South Korea, as well as that of South Korea to Nigeria, for their immense contributions that ended the dispute,” he said.
Elegbede, however, said that the association was not surprised on the quick inroads made by the NEPZA chief executive in marshaling out the template that finally brought the dispute to an end.
“Adesugba only displayed his experience as a former Chairman of the Nigerian Parastatal Industrial Arbitration Panel and as a Fellow of the Institute of Chartered Mediation and Conciliation,’’ he added.