Business
Association Wants FTZ Department In Customs, Imagination
The Africa Free Trade Zones Association last Thursday urged the Federal Government to establish Free Trade Zone (FTZ) departments in the Customs and Immigration services for effective supervision of the zones.
The Executive Secretary of the association,Mr Chris Ndibe gave the advice in a paper he delivered at the ongoing conference and exhibition on free trade zones in Lagos.
Ndibe spoke on “Examining the impact of policy and environmental elements on free zone development in Nigeria”.
He said that government needed to also establish a free zone academy because the global economy was now driven by knowledge.
Ndibe called for the reorganisation of board of the Nigerian Export Processing Zone Authority to allow the Minister of Trade and Investment be the chairman.
“The new board will have the Customs and Immigration officials as members for a minimum of 10 years,” he said.
According to him, there is the need to reassess the 26 FTZs and ensure quarterly monitoring of their performances.
He said that the government needed to review the operations of the authority every other year because a FTZ ought to work with a national strategic action plan.
“We cannot afford mediocrity in management of the zones; an all encompassing curriculum is imperative while workers need periodic training with other agencies for wider knowledge,’’ he said.
Ndibe said that banks like Nigerian Export-Import Bank (NEXIM) and Bank of Industry (BOI) should be encouraged to help in infrastructural development of the zones.
He said that a unique FTZ would enhance the economy and boost employment, exports and attract foreign direct investment to the country.
Ndibe said that investors primarily preferred the zones where they could have access to preferential trade agreements, liberal tax incentives or subsidised land.
It would be recalled that the Federal Government established the Nigeria Export Processing Zones Authority in 1992 to stimulate economic growth.
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