Connect with us

News

Enugu Free Zone set to attract $500m FDI, generates 20,000 jobs

Published

on

The Enugu Free Zone is being structured to attract up to $500 million dollars (N240 billion) worth of foreign direct investments (FDI) from leading global manufacturing companies, as well as create 20,000 jobs.

jobs

Investment groups are scheduled to gather for a ground breaking ceremony of the Enpower Free Trade Zone (ENPOWER FTZ), which is expected to drive investment around the facility.

The event is scheduled to be hosted by Governor Ifeanyi Ugwuanyi of Enugu State on November 24.

Activities of the industrial clusters hosted in the free zone are also expected to create over 20,000 jobs across three major regions in the country.

Licensed by the Federal government to operate as a free trade zone in December, 2015, ENPOWER FTZ is a Public-Private initiative with the Enugu State government offering international and domestic investors the benefits of connecting to business opportunities from the South-Eastern cluster, which according to Canback & Company and the McKinsey Global Institute, is the second largest economic cluster in Nigeria, outside of the Lagos Cluster.

Governor Ugwuanyi and his government’s private project developers are positioning the free trade zone project as the biggest private sector investment support to the government’s economic recovery efforts.

Enpower is affiliated, as a full voting member; to the Dubai-based World Free Zones Organization (WorldFZO) and the Africa Free Zones Association (AFZA) respectively. It intends to function as a certified SMART-SUSTAINABLE & SAFE free trade zone.

The investment promoters intend to provide uninterrupted power supply via an embedded power arrangements, certify the free zone’s infrastructure and operations to globally accepted standards, operate the free trade zone as a one-stop investment destination by integrating all free zone operations with the documentation and cargo handling, customs, immigration administration processes to achieve an Ease of Doing Business rating equivalent to that of Dubai.

Besides, the ENPOWER FTZ is to host Africa’s first ever Nigeria-China “Dragon Market”, the second such manufacturing and wholesale centre, after the famous Dubai Dragon Market. Dragon Mart Dubai is the largest trading hub for Chinese products outside mainland China.

The industrial park also gives access to markets covered by the Economic Community of West African States (ECOWAS); South East Asian countries including China, India and Malaysia; the European Union including Czech Republic and Germany; and the untapped industrial heartland of South-Eastern Nigeria especially the commercial cities of Onitsha, Nnewi and Aba.

ENPOWER Free Zone is designed to accommodate up to 500 companies located in two Free Zone Areas at The Ninth Mile industrial area and the Akanu Ibiam international Airport.

The specialized industrial clusters to be developed within the free zone areas include the manufacturing Centre and whole-sale market; the Aviation and Aerospace Cluster; the Power, Utilities and Light Manufacturing Cluster; the Health Care Park; the Business and Hospitality Park; Technology and Digital Media Park; and the Chemicals and Agribusiness Cluster.

Through the North-East rail line, EMPOWER FTZ also offers export-processing opportunities for farmers and agro-allied producers in the northern part of the country to harness, upgrade and convert farm produce to finished goods.

Governor Ugwuanyi who consolidates on foundation efforts of former Governor Sullivan Chime on the project boasts that the ground breaking ceremony for the facility would bear the first set of investment fruits which will give highly needed momentum to his government’s economic diversification programme.

According to him, “Enpower FTZ has put in substantial efforts into attracting specific, targeted high-profile investors right from the outset. These anchor investors play an important signaling role to other potential investors, and we expect them to attract a network of suppliers and partners.”

The first set of investors with proposals for investment includes Air Stream Aviation Company which has committed to setting up a maintenance, repair and overhaul (MRO) facility for all the services relating to assuring aircraft safety and airworthiness. MROs play an essential role in sustaining the world’s airline fleets. It is estimated that the global market for MRO is worth up to $50 billion.

Also, Ethiopian Airlines is committed to setting up a regional Air Cargo hub at the Akanu Ibiam airport to support operations of Enpower FTZ.

The airline is the largest airline in Africa and currently the only airline operating international flights into the Akanu Ibiam Airport.

Zetor Tractors has committed to set up an Agricultural tractors manufacturing/Assembly plant with an initial capacity of 3000 units per annum for both Nigerian and export markets.

Chairman of MDACI Marcel Dione, A Czech based investment consulting company, noted that the Zetor plant will manufacture tractor units and accessories for sale not just in Nigeria, but across their Sub-sahara African market.

He restated that his company is facilitating financing as well as technology-transfer through a hybrid manufacturing business model.

“Zetor joins a growing list of companies from Europe, India, China and the United States as well as local breweries and a major truck assembly plant, who have committed to locate their projects in the free zone project.”

News

IGP directs police officers to wear black bands in honour of Taoreed Lagbaja

Published

on

By

Kayode Egbetokun, the inspector-general of police, has directed officers to wear black bands in honour of Taoreed Lagbaja, the late chief of army staff (COAS).

In a statement signed by Muyiwa Adejobi, the force spokesperson, Egbetokun ordered personnel to wear the bands during the seven-day mourning period.

“This directive is to pay tribute and honour the late General who has shown gallantry, dedication, and passion for fighting violent crimes and insurgency in Nigeria,” the statement reads.

“He was a great leader who deserves to be honoured by all means.”

On Wednesday, President Bola Tinubu ordered that national flags be flown at half-mast in honour of Lagbaja.

Lagbaja died on Tuesday after battling an undisclosed ailment. He was 56-years-old.

He was appointed COAS by Tinubu on June 19, 2023.

Lagbaja enrolled into the Nigerian Defence Academy in 1987.

In September 1992, he was commissioned as a second lieutenant in the Nigerian Infantry Corps as a member of the 39th regular course.

He served as a platoon commander in the 93 Battalion and the 72 Special Forces Battalion.

Lagbaja also participated in various internal security operations, including operation ZAKI in Benue, Lafiya Dole in Borno, Udoka in south-east, and forest sanity in Kaduna and Niger.

The president has appointed Olufemi Oluyede as acting COAS.

Continue Reading

News

LASEPA seals off churches, hotels over noise pollution

Published

on

By

The Lagos State Environmental Protection Agency (LASEPA) has sealed off some establishments over alleged noise pollution.

The facilities sealed include churches, lounges, nightclubs, bars, and hotels in the Lagos metropolis.

In a statement on Wednesday, Babatunde Ajayi, the general manager of LASEPA, said the move was in line with the agency’s efforts to uphold environmental standards and safeguard public health.

“In a bid to address noise pollution and other environmental violations, LASEPA took action, closing down several establishments across different parts of the state,” Ajayi said.

He noted that the establishments were found guilty of breaching environmental regulations despite multiple warnings from LASEPA.

He reiterated the agency’s zero-tolerance policy on regulatory non-compliance, saying “we will not permit disregard for our regulations”.

Ajayi said the enforcement drive focused on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota.

He added that the sealed outfits include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Night Club and Lounge, and Bridge Spot Bar.

Others are Okiki Event Centre and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The LASEPA boss urged all businesses to recognise their environmental obligations and work alongside the state government to foster a cleaner and more sustainable Lagos.

Continue Reading

News

Tinubu approves establishment of Teaching Hospital in Ondo

Published

on

By

The Federal Government has approved the establishment of a teaching hospital in Akure, Ondo State, to support the training of medical students at the Federal University of Technology Akure (FUTA).

President Bola Tinubu has directed the Minister of Health and Social Welfare, Prof. Mohammad Pate, to initiate the necessary arrangements for the establishment of the teaching hospital. Prof. Pate has since dispatched a team to Ondo State to assess the location.

Leading the team, Dr. Jimoh Olawole Salaudeen, Director of Hospital Services at the Federal Ministry of Health, inspected FUTA’s permanent site, designated for the hospital. Salaudeen also visited the Akure Annex of the University of Medical Sciences Teaching Hospital (UNIMEDTH), which will serve as a temporary site for the teaching hospital.

Speaking with reporters after the inspection, Dr. Salaudeen expressed optimism about the hospital’s potential to become operational soon, citing available facilities. “President Tinubu directed that Akure should have a federal teaching hospital,” Salaudeen stated. “We are here to coordinate with the state government and review the site options for establishing the teaching hospital.”

Salaudeen highlighted the urgency of the project, noting that FUTA has begun training medical students, who are now in their third year. “The state government has provided a temporary site, and we are pleased with the infrastructure at the permanent site, including an auditorium, health center, and classrooms,” he said.

He added, “Our goal is to identify equipment needs at the temporary site to create a model federal tertiary hospital that supports student training. The enthusiastic support from the community is encouraging and will facilitate a peaceful learning environment.”

Ondo State’s Commissioner for Health, Dr. Banji Ajaka, affirmed the state government’s commitment to supporting the project, ensuring it aligns with the president’s vision. “We have drafted an MOU and laid groundwork for the medical students to complete their training on schedule,” Ajaka said.

FUTA’s Vice Chancellor, Prof. Adenike Oladiji, expressed relief, saying, “We’ve been concerned about where our medical students would complete their clinical studies. I’m thrilled that the federal government has stepped in to provide a solution.”

Prof. Oladiji also highlighted FUTA’s biomedical engineering department, which aims to contribute to the school of health sciences by producing essential medical equipment. “This initiative aligns perfectly with our commitment to training future health professionals and engineers who can innovate and support the healthcare sector,” she added.

Continue Reading

Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

Most Read...