By Adedapo Adesanya
The Nigeria Export Processing Zone Authority (NEPZA) and the Delta State Government have announced moves to revamp the moribund Koko Port Free Trade Zone (FTZ).
A statement issued by the Head of Corporate Communications at NEPZA, Mr Martins Odeh, disclosed that the decision to transform Koko Port FTZ was reached when the Managing Director of the agency, Mr Adesoji Adesugba, visited the Delta State Governor, Mr Ifeanyi Okowo, last week.
It was disclosed that the reactivation would help to attract new investments and boost economic activities in the South-South state.
“The Nigeria Export Processing Zones Authority and the Delta State Government have commenced discussions on the possibility of re-activating the moribund Koko Port Free Trade Zone to attract investments and boost economic activities in the state.
“The parties agreed to revamp the waned multi-billion-dollar project when Prof. Adesoji Adesugba, the NEPZA Managing Director, led some officials of the Authority to pay a courtesy visit on the governor, Senator Ifeanyi Okowa on Thursday, August 5, in Asaba,” a part of the statement said.
The Koko FTZ is located about 35 kilometres from the port city-Sapele, Warri North Local Government Area of the state. The zone has a land allocation of 2,327 hectares with a seaport to be upgraded within the enclave.
Mr Adesugba urged the state to immediately commence the resuscitation of the zone, adding that the government must take the advantage of the zone’s location to attract investments.
According to him, the seeming lack of interest in the zone scheme by most governors is responsible for the widespread lukewarm attitudes toward embracing the global economic model.
The NEPZA boss restated that the scheme was aimed at boosting industrialisation in the country, explaining that it was incumbent on the state governments to align with it.
He then expressed that the Koko Port FTZ will become a mainstream business ecosystem in the South-South region of the country if it was revived.
On his part, Governor Okowa said that his administration will work to resolve the disputes between the state and the consultants which was the major reason why the project was gathering dust.
The Governor also explained that it was the desire of the state for the Kwale Industrial Park which has 1,000 hectares and the Ogwashiku Agro-Allied Park occupying 300 hectares to be jointly upgraded to a free trade zone status.
Dipo Olowookere