THE Nigeria Export Processing Zones Authority (NEPZA) has said that policy development to drive novel digital technology is ongoing in order to open up the Free Trade Zones space for operators of the important multitrillion dollar block-chain technology businesses.
Speaking in Abuja, NEPZA Managing Director, Professor Adesoji Adesugba, said that the organisation aims at opening the country’s free trade zones’ corridor for genuine global competitiveness.
The Adesugba noted that the African Continental Free Trade Zones Area (AfCFTA) had given leverage to all countries in the continent to diversify their business catchments.
“As we speak, free trade zones are springing up everywhere in Africa. Nigeria must be concerned about competitions from Egypt, South Africa, Kenya, Benin Republic, Ghana and Togo where huge investments have been committed to free trade zones development.
“For us, we are doing well with about 500 enterprises operating in 42 zones across the country, but we must expand the investment corridor to magnet operators of the block-chain technology which remains the future of global economy.
“The time to join the train is now, else we shall be counting our losses in a few years time. We are delighted that the Federal Government through the Central Bank of Nigeria (CBN), recently approved and deployed the e-naira,’’ the NEPZA boss said.
He further held that more than 90 per cent of European and US banks were researching block-chain options. According to Adesugba, nothing should stop the country from exploiting the multitrillion dollars sector.
NEPZA boss stated that multinational organisations like JP Morgan, MTN, KFC, Tesla and many others had entered the crypto currency and met-averse digital block-chain sector with MTN said to have purchased 114 met averse properties recently.
He explained further that the authority was aware of how the technology could revolutionalise government, finance, insurance and personal identity security, adding that trillions of naira could accrue to the Federal Government as revenue from this ecosystem,’’ Adesugba said.
The NEPZA chief executive also said that the decision to fully promote the block-chain technology hinged on its fast rate of revenue turnovers and the unlimited job space the technology had for the teeming youth.
He explained that the country’s tax net would be exponentially enlarged if the investment came alive, as according to him, Nigeria is currently rated as the sixth largest player in the world in the crypto and block-chain trade especially amongst the youths.
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“Absolutely, When we came with the Buhari government in 2015 I became the minister. We were committed to a roadmap to establish a National Carrier, to concession the airports, to set up a leasing company, to establish cargo facilities and we have been doing that.”
On why the Buhari government wanted a national carrier, the minister responded: “Nigeria is situated at the centre of Africa, equidistant from all locations in Africa. 30.4 million square kilometres miles, 1.5 billion people, very green land. If Central and Eastern Africa is the belt of the continent, then Nigeria is the buckle. 200 million people and rising middle class, propensity to fly is high. Nigeria is a candidate for National Carrier.”
Sirika who insisted that the coming national carrier will be private sector driven added; “Private. Yes. 5 per cent government and no government stepping right in that company, no government control, no membership of government on board. Totally private and committed.
“Whatever we say we will do as a government since 2015, it has happened. that is why Tim Clark of Emirates, Qatar Airways and all of them are looking to go into Nigeria in multiple frequencies and multiple landing points because Nigeria is the right place for the airline business.
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