FG to establish free trade zone in University of Abuja

The federal government through the Nigeria Export Processing Zones Authority (NEPZA) and the Abuja Chamber of Commerce and Industry on Monday revealed plans to establish a Free Trade zone in the University of Abuja.

The Free Trade Zone is expected to focus on mining, agriculture, technology, tourism and other economic activities.

Adesoji Adesugba, director general of NEPZA, who disclosed during a courtesy visit by Abdul-Rasheed Na’Allah, vice chancellor of the University of Abuja, said the establishment of the economic zone would boost funding for the University.

Adesugba added the establishment of the zone in the university would fast track economic development explaining that it provides opportunity for shared value between the educational institution and industries concerned.

“The university will provide the necessary research to the industry while the students enjoy practical experience. This synergy will guarantee employment, innovation and shared value,” he said.

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“We can’t continue to have our assets locked down. Universities in Nigeria need to start thinking of commercial activities they can engage in to generate their own fund. We will support the university and engage private sectors to help us unleash the idea for the benefit of the nation” he added.

In his remarks, the Vice Chancellor of the University stressed on the need for students to have industrial engagements, practical experiences and innovations.

“We aim to mobilize young minds for National development, to strengthen youth for leadership roles in the industry. Students will have practical experience right on campus thereby providing them with employable skills before graduation,” he said.

Representing the Abuja Chamber of Commerce and Industry, the immediate past President of the Chamber Adetokunbo Kayode further stressed that the initiative would help the institution generate its own fund.

He said the collaboration between the university and the industry will enable research opportunities and promote the use of local talents.