The federal ministry of industry, trade and investment says it is partnering with the Abia state government and Crown Realities Plc for the development of Enyimba Economic City.
According to a statement by Bisi Daniels, strategy and communications adviser to the minister, the partnership is part of its agenda to develop special economic zones in the country, for which stakeholder engagement is ongoing. Other projects under the Public-Private Partnership model, which are to serve as pilot projects are in Katsina and Lagos states.
“The Federal Government’s Economic Recovery and Growth Plan identifies the development of Special Economic Zones (SEZs) as a major strategic tool to accelerate the implementation of the Nigeria Industrial Revolution Plan through the manufacturing of goods for exports,” the statement quoted Okechwuku Enelamah, minister of industry, trade and investment, to have said.
“Accordingly, Project MINE (Made in Nigeria for Exports), was envisioned by the Federal Ministry of Industry Trade and Investment and the Nigeria Export Processing Zone Authority (NEPZA), to develop SEZs to world-class standards and position Nigeria as the pre-eminent manufacturing hub in sub-Saharan Africa and a major exporter of made in Nigeria goods and services regionally and globally.”
According to the statement, Project MINE hopes to create 1.5 million new manufacturing jobs in its initial phase, increase manufacturing exports to at least $30 billion by 2025 and create an enabling environment for SEZ businesses by ensuring easy access to government approvals and permits.
“The first phase of the project is to focus on the development and upgrade of SEZs in 12 states across Nigeria, following which the initiative will be extended to other States in subsequent phases,” it said.
“This involves, among others, partnering with the private sector to develop new world-class SEZs in Abia, Katsina and Lagos as pilot projects to demonstrate proof of concept and provide models for future SEZ development Nigeria.”
The ministry also said that it had signed a memorandum of understanding (MoU) with Shandong Ruyi Group of China for the investment commitment of $2 billion to the Nigerian textile industry through investments in manufacturing facilities in Enyimba Economic City, Abia State; Kano Free Trade Zone and Lekki Free Trade Zone.