Economy
Nation’s 1st Medical Special Economic zone Coming – NEPZA MD
The Nigeria Export Processing Zones Authority (NEPZA) says discussions are already underway for establishment of the first fully equipped and functional Medical Special Economic Zone (MSEZ) in Nigeria.
Prof. Adesoji Adesugba, NEPZA’s Managing Director, disclosed this on Wednesday in Abuja when a delegation from Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) visited him.
The delegation, led by its National President, Hajiya Saratu Aliyu, had sought for NEPZA’s collaboration in trade and export processing.
Adesugba noted that the Lekki Free Trade Zone in Lagos State was earmarked as the site for the first fully equipped and functional Medical Special Economic Zone (MSEZ) in Nigeria.
According to him, when the MSEZ if finally established, it will provide world class, in-country healthcare comparable to what Nigerians seek abroad.
He further noted that the conceptualisation of the zone was done in response to the emergence of the Coronavirus (COVID-19) pandemic which many countries were ill-prepared for.
He noted that the pandemic had taken its toll on the economic and healthcare systems of even the most developed countries.
This, he said, had led everyone to re-evaluate and develop new strategies for building additional capacity in the medical arena.
“Nigeria is no exception to this.
“The MSEZ aims to reduce medical tourism from Nigeria, revitalise the health systems, create jobs and conserve foreign exchange.
“If approved, the project will be executed in partnership with the Lagos State Government (LASG) and the Federal Ministry of Health (FMOH).
“Discussions are already underway with high-level stakeholders and potential investors on the implementation arrangements for the zone which has been met with huge positive response.’’ he noted.
He disclosed that it had revised its strategic plan to include “to increase the number of functional and optimal SEZs’’ as one of its key goals.
Adesugba said that the revised plan was aimed at supporting President Muhammadu Buhari’s industrialisation agenda, upon his appointment as NEPZA’s managing director in July 2020.
He noted that the main strategy was the creation of SEZs models of global best practice by establishing world class “plug and play” technically-driven zones and providing an enabling environment for business in some thematic areas.
He listed the thematic areas as medical, mining, technology and agricultural areas.
To this end, he said that some of the six approved SEZ’s by the President, namely: Lekki Free Trade Zone, Lagos and Kwara States SEZs shall be developed into model zones.
“Two other zones, Funtua SEZ, Katsina State and Gombe SEZ, Gombe State will also commence preliminary studies,’’ he added.
“The Funtua SEZ in Katsina State is the proposed site for the Cotton and Textile SEZ whilst Ilorin SEZ in Kwara state has been earmarked for the Agricultural SEZ,’’ he said
Adesugba, however, promised to collaborate with NACCIMA to boost enabling environment for business and investment to thrive.
Aliyu had said that NACCIMA as the business organisation and umbrella body of the Organised Private Sector (OPS) had sought support of NEPZA for export.
The NACCIMA president said it needed NEPZA’s support in harnessing the opportunities inherent in export by its members.
“With NEPZA, our goods will be well packaged and processed for export,’’ she said. (NAN)
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)
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