Godwin Ekpe, head Calabar Free Trade Zone (CFTZ), has said that the foreign direct investment (FDI) from CFTZ stood at 7billion U.S dollars as at 4thquarter 2018, leading to the transformation of Cross River State’s economy in particular and Nigerian economy in general.
Ekpe said this at the weekend in a welcome address to the governing board of Nigeria Export Processing Zone Authority (NEPZA) led by Segun Oni, a former Ekiti State governor, and some top management staff of NEPZA during an interactive session with investors at the CFTZ.
“So far, the zone has licensed seventy two companies of which forty two are operational, carrying out different activities with additional line of investment opportunities such as trading, warehousing, assembling, services, oil and gas,” he said.
“The Calabar free Trade Zone has transformed the economy of the host country and state through revenue generation to the Federal Government and the state in terms of PAYE, rents,” he further said.
According to the Head of (CFTZ), since its inception, the zone has attracted over 12, 000 direct and indirect employment to teeming youths in the country and is still attracting.
He appealed to the governing board for sustainable power supply to the Calabar Free Trade Zone and then completion of ongoing renovation of the administrative block.
Other demands include the suspension of CFTZ and Kano Free Trade Zone privatization, considering the poor outcome of privatised companies in Nigeria.
Responding, Segun Oni, the board chairman, promised to look into the issue of power supply in the zone, saying, “we are determined to make the zone work; we must resolve as quickly as possible the issue of power supply in Calabar CFTZ.”
David Nongo, managing director of NEPZA, promised that the lingering issue of power supply in Calabar Free Trade Zone will be put to rest before the end of the year, as management was working hard to ensure regular power supply in the zone.
The governing board of NEPZA and its top management staff were in the state for a three-day strategic meeting at Transcorp Hotels after paying a courtesy call on the Obong of Calabar.
MIKE ABANG,Calabar
