Prof. Adesoji Adesugba, Managing Director, Nigeria Export Processing Zones Authority (NEPZA), has described the Dangote Petrochemical Free Trade Zone Enterprise as a ‘one-world project’, capable of fast- tracking the country’s industrialisation process.
Adesugba made the remark in a statement issued by NEPZA’s Head, Corporate Communications, Martins Odeh, on Tuesday in Lagos.
He is quoted as making the observation during a tour of the project site.
The project covers 2, 700 hectares of land, and comprises petroleum refinery, Dangote Fertiliser and other sundry manufacturing outfits.
The refinery section of the project is considered the largest single trail petroleum refinery in the world.
It has capacity to produce 650,000 barrels per day, making a total of 32 million tons per annum.
Adesugba said during the tour that some of the engineering and marine technologies used in the project could later be listed in the world class Guinness Book of Records.
He noted that the project had come to meet both the petroleum and fertiliser needs of the country.
“It is indeed a privilege for this project to be sited in Nigeria; it shows that Alhaji Aliko Dangote had long caught the vision of the country to become self- sustaining in the production of petrochemical products.
“We are fascinated by the energy both the expatriates and local workforce have put into this work so far.
“The project has opened a vista for technology transfer, massive job creation, training of local engineers as well as apprenticeship in world class marine and petrochemical engineering procedures.
“Nigeria is, however, eager to see the completion of this project, which shall open up the economy for Foreign Direct Investment (FDI) drive.”
According to the professor, Dangote has used the free trade zone scheme to sustain the progress of work, as all machinery and equipment from abroad to aid the project were tax and duty-free.
“There is no gainsaying that the project, when completed, will have multiplier positive effects on our economy, that of Africa and the world as a whole.
“This is indeed a one-world project.
“As an agency, we are committed to supporting and protecting all enterprises in the zones from untoward exploitation,’’ the managing director said.
Adesugba noted that the free trade zone concept had guaranteed lofty incentives that include non- payment of taxes, customs duties and such other levies, that were hitherto alien to the operation of the scheme.
He expressed satisfaction with the commitment of the drivers of the zones that had ensured the success of the scheme so far.
Adesugba said that all encumbrances against smooth operation of the zones would be gradually removed.
The managing director stated that he was concerned with the worries expressed by operators, on the need to amend the NEPZA Act without further delay.
He stated that the draft of the amendment to the Act had already been done.
Adesugba noted that efforts were ongoing to ensure that the offshore banking regulation was approved, to allow enterprises in the zones have access to foreign exchange effortlessly.
“I, therefore, urge operators to find a way of constituting themselves into a virile association that could be used to deepen stakeholders’ collaboration and partnership,” he said.
