The Nigerian government has approved four out of the five designated international airports as Special Free Zones (SEZ), but remained silent on Enugu airport.
The Minister of Aviation, Senator Hadi Sirika, disclosed this on his Twitter handle yesterday, saying “I am very glad to announce that the president has approved our four international airports as Special Economic Zones. These are Lagos, Kano, Abuja and Port Harcourt. Our roadmap is working.”
A Special Free Zone is an area in which the business and trade laws are different from the rest of the country, and are usually located within a country’s national borders or airports, which operates as investment or manufacturing hub with tax relief and other conveniences as incentive.
Such trade zones bring in development and promote exports of goods and services; investment from domestic and foreign sources; creation of employment opportunities and the development of infrastructure facilities.
- Trending:How Forest Elephants Move Depends on Water, Humans and Their Personality
- Trending:Punitive Laws are Failing to Curb Misinformation in Africa. Time for a Rethink
- Trending:Violence is Endemic in North Central Nigeria: What Communities are Doing to Cope
- Trending:Southern Madagascans Face Severe Hunger as Drought Worsens