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New export processing zone on the cards for Akwa Ibom
Wed, 12 Nov 2008 15:46
Jaco Maritz

The Akwa Ibom State Government is planning to construct a massive free zone called the Ibaka Export Processing Zone (EPZ).

During the recent Nigeria – South Africa Investment Network Forum held in Cape Town, Nsima Ekere, Executive Chairman of the Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC) reaffirmed the administration's commitment to the project.

Ekere said the facility will not only be a port but will also feature an industrial park, offices and residential areas. It will therefore be possible to conduct all daily activities within the zone.

Answering a question on how the project will be different from the Tinapa complex in Cross River State, the chairman said that where Tinapa focuses on commercial activities, the Ibaka EPZ will concentrate on production.

Investors in the EPZ will able to bring in and export products from the zone without paying any duties. According to Ekere this will ensure that products remain competitive in overseas markets.

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