FG Restates Commitment to Special Economic Zones

FG Restates Commitment to Special Economic Zones

Nume Ekeghe

The federal government has assured the strategic investment partners and advisers in the Nigeria Special Economic Zone Investment Company Limited (NSEZCO) of its commitment to the development of special economic zones across the country.
The assurance was given by Vice President Yemi Osinbajo, at a meeting with the representatives of the investment partners of NSEZCO, including the African Export-Import Bank, Bank of Industry, Nigerian Sovereign Investment Authority, Africa Finance Corporation and the African Development Bank and the legal advisers, Aluko & Oyebode.
According to a statement, Osinbajo condemned the recent misrepresentations created about NSEZCO in certain sections of the media and regretted the embarrassment this may have caused the investors.

He reaffirmed the government’s endorsement of the strategies and plans put in place for the actualisation of the SEZs.
The VP also assured the investors of the readiness of the Buhari-led administration to offer all the support required to complete their investments in the company.
According to Osinbajo, it is the vision and plan of the Buhari administration to be the pre-eminent manufacturing hub in Africa and a major exporter of manufactured products.
Osinbajo restated the government’s commitment to Project MINE (Made in Nigeria for Exports), a Presidential Priority Intervention project, using Special Economic Zones to achieve the objectives of boosting manufacturing’s share of GDP to 20 per cent generating $30billion in annual export earnings and creating 1.5 million new jobs in the export-oriented manufacturing value chain.
According to him “the project is fundamental for us as industrialisation is a major pillar of our Economy Recovery and Growth Plan”.
The Attorney-General of the Federation, Mallam Abubakar Malami, who was also at the meeting, explained to the investors that the recent investigation into the affairs of the company was to establish the integrity of the federal government and the propriety of its actions in the light of the negative perceptions created in the media. 
He also reiterated that the government has no intention to frustrate investment in the company and its smooth take-off.

Managing Director, Bank of Industry, Mr. Olukayode Pitan and the Regional Chief Operating Officer – Anglophone West Africa, African Export-Import Bank, Mr. Abdoulaye Kone, who spoke on behalf of the investors and Mr. Gbenga Oyebode on behalf of the advisers, thanked the federal government for the assurances given to them and confirmed their commitment to the project.
Earlier, the Minister of Industry, Trade & Investment, Dr. Okechukwu Enelamah, thanked the Vice President, the Attorney General of the Federation and the investors for their support.
He said from all indications, NSEZCO remains on course to raise $500million for investment in Special Economic Zones in Nigeria.

Mechanic Wins Education Grant in DiamondExtra Promo

Nume Ekeghe

Access Bank through its DiamondExtra Promo has changed the life of a mechanic from Kafanchan in Kaduna State, who won an educational grant worth N100,000 every month, for five years.

Also, the bank disclosed that the DiamondXtra savings promo which is in its 10th year has given out prizes worth over N5 billion since inception.

Mr. Adewale Adekoya; Mrs. Ezeilo Nkechi; Mr. Badmus Morufu and Mr.Chinedu Nwabuife were recipients of N1 million prizes.

Also, Mr.  Nonso Mmeni; Mr. Obinna Ariguzo, and Mr. Emmanuel Izuora won N500,000.

In addition, Mr. Nwoko Chibuikem won rent for a year worth N1 million, while the star prize of salary for life of N100,000 per month for 20 years was won by Mrs. Nnenna Chukwu and Education Allowance for five years at N100,000 monthly was won by Mr. Aliyu M Umar

Speaking at the prize presentation held in Lagos, the Executive Director Retail Banking, Access Bank, Mr. Victor Etuokwu said: “We are rewarding our customers for their loyalty and patronage to the bank. DiamondXtra is the best banking product in Nigeria.

“The product has been rewarding Nigerians of every gaps and there is no way the bank can add value to an economy and people without doing things like this a product of a bank must add value and DiamondXtra adds value every single day.

“Over the last 10 and half years, over N5 billion have been given out and today.”

Also, Head, Product Insights and Capabilities, Access Bank, Mr. Robert Giles said: “Our business is about our customers and our success. If our customers’ successes are successful and as our customers grow, we grow as well. “So we have helped millions of people to grow in the 10 years we have been running DiamondXtra and in addition to helping people save, people have been winning salary for life, senior citizen prices and other magic moments for people.”

The star prize, Mrs. Chukwu commended the bank.

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