Nigeria Intends To Revise Export Processing Zone Management Act
According to the voice of Nigeria, Biterus Doak, executive director of the Nigeria Export Processing Zone Authority (NEPZA), said at a press conference that the revision of the export processing zone management act is the main agenda of its term of office, which will increase foreign investment, create employment opportunities and promote the country's economic development.
When it comes to revising the bill, Dr DOK said that the bill currently used has been 27 years old, when the bill was introduced to manage export processing zones. But now that the free trade area is very active, the current bill can not solve many new problems, so NEPZA intends to cooperate with the Ministry of industry and trade, the national assembly and other stakeholders to amend the bill. The revised bill will bring substantial investment in infrastructure and allow the free trade area to develop banking business, which is a major part of the proposed bill.
According to director DOK, NEPZA will interact with several free trade areas in Lagos, cross river, Kano and the federal capital area to understand their difficulties and work together to solve the problem.
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