Association Commends Buhari, NEPZA on Ladol- Samsung Agreement

The Nigeria Economic Zones Association (NEZ association) says it is basking in the friendly business climate built around the country’s Free Trades Zones by President Muhammadu Buhari.

Oluwatoyin Elegbede, Executive Director of the association remarked after conducting routine visits on some of the zones across the country.

Elegbede explained that the new NEPZA management led by Prof. Adesoji Adesugba had instituted a drastic turnaround of these special economic enclaves as directed by the president.

“We have watched with keen interest the management of the Free Zones in Nigeria under Prof. Adesoji Adesugba administration. The management of the Nigeria Export Processing Zones Authority is transforming to reality the vision of His Excellency, President Muhammadu Buhari.

“We wish to commend Prof Adesugba and his team for the recent spate of project development in the public zones and the renewed vigour in promoting investments into the private zone by the authority.

“Of particular mention is the recent dispute resolution bringing to end years of business war between two of our prominent members Ladol and Samsung.

“Adesugba in carrying out the directive of the president to end the five years squabble, swung into action to ensure amicable settlement of the dispute that will unlock over 300 billion US Dollars Investment value in the long term and about 7 billion US Dollars in the short term in our dear country,” Elegbede said.

He further explained that “the end of the dispute will also re-ignite employment generation and economic development as promised by the president.

“We, therefore, like to use this opportunity to especially thank the President for directing all the relevant agencies to find a solution to the disputes. Also, worthy of note for commendation is the Chief of Staff to the President, the Minister of Industry Trade and Investment, Otunba Niyi Adebayo, the Ministers of Transportation, RT. Hon. Rotimi Amaechi, the Attorney-General of the Federation, Mr Bello Koko, Acting Managing Director of the Nigeria Port Authority, the Nigerian Ambassador to South Korea, as well as that of South Korean to Nigeria for their immense contributions that ended the dispute,” he said.

Elegbede, however, said that the association was not surprised by the quick inroads made by the NEPZA’s chief executive in marshalling out the template that finally brought the dispute to an end, as according to him, Adesugba only displayed his experience as a former Chairman of the Nigerian Parastatal Industrial Arbitration Panel and as a Fellow of the Institute of Chartered Mediation and Conciliation.