The proposed reform of the Calabar and Kano Special Economic Zones will cause a major revitalisation of the two zones and transform them into world standard, the Minister of Industry, Trade and Investment, Adeniyi Adebayo, has said.
A statement on Friday issued by the Head, Public Communications, Bureau of Public Enterprises, Amina Tukur Othman, said the minister made this known while inaugurating the Transaction Implementation Committee for the reform of the two SEZs in Abuja.
The minister added that the reform would bring about economic diversification, growth and development in the country
Adebayo asked members of the committee to take the national assignment with the highest sense of responsibility.
He said that globally, SEZs had been pivotal in the economic growth and development of several countries but their performance had been sub-optimal in Nigeria and other African countries.
He stated that there were 34 SEZs in Nigeria out of which the Federal Government owned only the Calabar and Kano Free Trade Zones.
According to him, the rest are either privately owned or joint ventures between the private sector and state governments
Adebayo expressed regret that the two Federal Government owned SEZs in their current state were under performing.