The Nigeria Export Processing Zones Authority has disclosed that discussions were ongoing with the Delta State Government to revamp the defunct Koko Port Free Trade Zone to attract investments and boost economic activities in the state.
According to a statement by the Head, Corporate Communications, NEPZA, Martins Odeh, the parties agreed to revamp the project when the NEPZA Managing Director, Adesoji Adesugba, paid a courtesy visit on the governor, Ifeanyi Okowa, on Thursday.
It read in part, “The Nigeria Export Processing Zones Authority and the Delta State Government have commenced discussions on the possibility of re-activating the moribund Koko Port Free Trade Zone to attract investments and boost economic activities in the state.
“The parties agreed to revamp the waned multi-billion-dollar project when Prof. Adesoji Adesugba, the NEPZA Managing Director, led some officials of the Authority to pay a courtesy visit on the governor, Sen. Ifeanyi Okowa on Thursday August 5, in Asaba.”
The Koko Free Trade Zone is located about 35 kilometres from the port city-Sapele, Warri North Local Government Area of the state.
The zone has a land allocation of 2,327 hectares with a sea port to be upgraded within the enclave.
Adesugba urged the state to immediately commence the resuscitation of the zone, adding that the government must take the advantage of the zone’s location to attract investments.
According to him, the seemingly lack of interest on the zone scheme by most governors is responsible for the widespread lukewarm attitudes toward embracing the global economic model.
The NEPZA boss restated that the scheme was aimed at boosting the industrialisation in the country, explaining that it was incumbent on the state governments to align with it.