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Nigeria to establish 6 special economic zones

by ChemOrbis Editorial Team - content@chemorbis.com
  • 18/11/2016 (17:28)
According to media reports, Nigeria’s Minister of Industry, Trade and Investment, Okechukwu Enelamah reported that they are planning to establish six Special Economic Zones (SPZs). Currently, the Ministry is conducting a feasibility study for the establishment of the proposed zones and allocating a fund in the budget for the first phase to be launched in 2017.

Enelamah also said that China’s Exim Bank (the Export-Import Bank of China) has committed to spend $1 billion for special economic zones.

Through the establishment of special economic zones, the Ministry aims to ease infrastructure disadvantages suffered by local manufacturers and benefit from advantages of locating similar manufacturing businesses together.
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