The Nigerian government has approved the establishment of a Free Trade Zone (FTZ) for one of its tertiary institutions, the University of Abuja, in the federal capital territory.
It aims to attract investors to tap the mineral and agriculture resources that will boost the institution’s Internally Generated Revenue (IGR).
The approval is coming on the heels that over N2 billion revenue is expected to be generated yearly from capable licensed investors that will mine the abundant mineral resources like the bauxite, aluminum, gold, marble and other precious stones presently lying fallow across the over 10,000 hectares of land mass where the institution is sited.
Similarly, it is also expected that the arable land resources in the institution could be harnessed by investors to produce enough food for consumption, raw materials for local industry while generating employment for teeming youths and boost the finances of the University.