Business
Free Trade Zone Scheme Remains Presidential Initiative – NEPZA

The Nigeria Export Processing Zones Authority (NEPZA), says the Free Trade Zone (FTZ) scheme in the country is a presidential initiative aimed at propelling economic growth through local production.
Prof. Adesoji Adesugba, NEPZA Managing Director said this while speaking with some operators of enterprises in the Calabar free trade zone in Cross Rivers State capital during an official tour of the zone.
Adesugba in a statement by Mr Martins Odeh, the Head, Corporate Communications, NEPZA on Thursday said that President Muhammadu Buhari was fully committed to ensuring the success of the scheme.
He said that the Federal Government was aware of the challenges associated with zones’ operations, adding that it considered the prospects and gains to far out-weigh those challenges.
Adesugba, however, said the public and private sectors must agree to work together to jointly solve some of the problems negating the smooth operations of the scheme in the country.
According to him, arrangement to upgrade electricity supplies to both Calabar and Kano free trade zones directly managed by the government has reached advance stage.
“The private zones are gradually out-growing the challenges of power and water supplies; the president is, therefore, committed to making the public zones enjoy similar infrastructural stability,” he said.
He said enterprises in the zones must be allowed to enjoy free tax regime as advocated by the drafters of the concept.
“We must ensure that the public understands the true meaning of the scheme which is simply a business enclave out of the customs area.
“The enterprises operating in the zones are not taxable. This is an aspect where the various tax agencies must come to terms with.
“The scheme could affect government revenue generation in a short term, but will boost local production, create employment, attract Foreign Direct Investment (FDI) for industrialisation in the long run,” the managing director said.
Furthermore, the NEPZA boss urged the staff of the authority in the zone to develop a renewed vigour toward helping in executing the agency’s mandate.
He said that the management would no longer condone ineptitude behaviour from any members of the workforce.
Adesugba, who assumed office as Chief Executive Officer of the authority about three months ago, had embarked on similar familiarisation tour to Kano and Lagos zones respectively.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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