Scale Up Your Economic Impact On Host Communities, NASS, NEPZA Tell FTZs Operators
The National Assembly and the Nigeria Export Processing Zones Authority (NEPZA) have emphasized the urgent need for Free Trade Zone (FTZ) Management Companies and their Enterprises to adopt more impactful strategies for the development and regeneration of their host communities. This consensus was reached during a two-day inspection of activities at some Free Trade Zones located in the Lekki area of Lagos State, spearheaded by Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, with the members of the Senate Committee on Trade and Investment.
Senator Sadiq Suleiman Umar, the Chairman of the committee, stressed the importance for Free Trade Zone operators and their enterprises to continue to support host communities in moving away from poverty. The Federal Government has noted the current scope of ‘Corporate Social Responsibility’ interventions by these operators, underscoring the necessity for a well-defined and measurable approach for sustainable development within these communities.
“We are delighted with the significant contributions of the scheme to our nation’s economy so far. The Lekki Quadrant has provided the Free Trade Zone scheme with a vibrant environment that currently acts as an economic gateway for our country,” stated Umar. “The committee, and by extension, the National Assembly, will be more gratified if the host communities receive greater leverage to enhance their prosperity in a measurable manner.
“We seek true data on these interventions as well as progressive reports on the well-being of the beneficiaries and the impact these targeted actions have on the people. Investors must also take deliberate steps in enhancing the entire Lekki environment where they operate,” Umar added.
Dr. Ogunyemi echoed these sentiments, emphasizing the necessity for Free Trade Zone operators across the country to swiftly adopt the Community Social Regeneration Concept. “We must continually acknowledge the foresight of His Excellency, President Asiwaju Bola Ahmed Tinubu, whose vision led to setting aside the area for economic emancipation. Therefore, regenerating host communities will enhance mutual respect and sustainability, bridging the development gap within the free trade zone ecosystem.”
He further noted the importance of operators being responsible for the well-being of their host communities to prevent encroachment and conflict. “Let us not use the scheme to perpetuate the unpopular ‘tale of two cities’ of wealth and squalor,” he pointed out.
Ogunyemi, also the CEO of NEPZA, elaborated that over the past year, the scheme has deliberately promoted the community regeneration concept, aiming to significantly enhance the impact and benefits of the scheme for the local population.
The areas inspected included the Lekki Free Zone (LFZ); the Dangote Free Zone Enterprise (DFZE), housing the Dangote Refinery; Lagos Free Zone (LFZ); Lekki Deep Seaport; among various other enterprises within the zones. The collaborative effort between the National Assembly and NEPZA underscores a commitment to ensure that communities surrounding these economic hubs flourish alongside the development occurring within the Free Trade Zones.
