NIPC Act: Ikpeazu Pledges Commitment to EEC Tenants Benefit


Ugo Aliogo

The Abia State Governor, Dr. Okezie Ikpeazu, has pledged him administration’s commitment to ensure that tenants in the new Enyimba Economic City (EEC) benefit from all provisions in the Nigeria Import Promotion Council (NIPC) as part of measures to make the business ecosystem friendly for them.

Ikpeazu who disclosed this in Lagos at the Source India Exhibition 2018, which took place from March 27 to 29, explained that they are also creating incentives for those who want to do business as it is required.

He explained that they aim was to harness the incentives created by the NIPC Act, stating that as a free trade zone location, a tenant is quarantined from the regular corporate tax, the tenant also has incentives around importing raw materials, ability to repatriate funds and make profits. He added: “Therefore all the benefits enshrined in the NIPC Act as a tenant, you have the opportunity to benefit from it.”

Ikpeazu who was represented at the event by the Director-General Public Private Partnership (PPP), Office of the Governor, Austin Ufomba, said one of the key pillars of the administration is to industrialise the state and make it one of the biggest industrial hub in West Africa, which is in resonance with what the federal government is doing at the national level.

The event also featured the signing of a Memorandum of Understanding (MoU) between the High Commission and Nigeria which was chaired by the President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) represented by a National Officer at NACCIMA, Mrs. Flora Nadifon, and the Deputy Director-General, NACCIMA.

Earlier in his remarks, the India Deputy High Commissioner to Nigeria, Shri Subhash Chand, said India-Nigeria trade and commercial relations continue to remain steady, despite the recession in the country, stating that the country is one of the important exporting destinations for India in the Africa region.

He also stated that with a skilled workforce as well as high managerial and technical competence in comparison to its peers in Asia, stressing that they would continue to create opportunities for Indian companies in emerging markets and Africa.

Continuing, Ikpeazu added: “We need to create more jobs to harness our local capabilities and resources. We should reduce the propensity to consume and the adaptive nature. There are huge opportunities in Aba and we want to re-ignite that potentials this why we are creating an economic city. We know people want to manufacture, therefore people want ecosystem that are good for their manufacturing. They need areas where they can get gas, power and reliable water for manufacturing, places with good logistics centre to truck in goods from the manufacturing port to the sea port, with easy. We want to create business friendly environment in the state. This model has been done in India, China and Ethiopia. We are bringing something that is best in class.”

Stakeholders to Chart New Direction for Travel, Tourism Industry
As part of measures to chart a new direction for the travel and tourism industry, stakeholders in the industry will be organising the 2018 Travel and Tourism Summit/Exhibition tagged: ‘Innovating, Collaborating and Growing to Restore the travel and tourism industry in Nigeria’ from April 27-28, Federal Palace Hotel Victoria Island, Lagos.

According to a statement issued to THISDAY by the Event Director, Mr. George Agbanelo, the summit which is in its 2nd edition would provide a platform to deepen ongoing discussions, stimulate measure actions and provide the most inclusive and solutions on how to convert assets into economic growth and prosperity. It added: “The summit will delve in details into opportunities in travel and tourism and will participants to be wholly updated on the market by some of the senior experts in the industry. The summit will look at the roles and opportunities for all players in the market including investors, financiers, the government, Information and Communication Technology (ICT) providers, development agencies and their related advisers, whilst networking with the leading professionals in tourism from across the country.”