Ogun-Guangdong FTZ lifts economy with $300m, 6,000 jobs in 14 years

By Ernest Nwokolo, AbeokutaOgun-Guangdong Free Trade Zone (FTZ), an outcome of the commercial partnership between Chinas Guangdong province and Ogun state, southwestern Nigeria has boosted the economy of the state and Nigeria in the last 14 years with over $300m foreign investments in the industrial zone.Chairman of the new management board of the FTZ, Prince Gboyega Nasir Isiaka, who disclosed this at the weekend, said challenges of multiple taxations, security and road infrastructure would be addressed to enhance the FTZs capacity to increase the states investment drive and realise its industrial potential for rapid socioeconomic development.Isiaka spoke after a tour of the zone and some industries operating inside it, stressing that of the 80 companies licensed to operate within the facility, 44 are fully operational, 17 are at different levels of construction- with all engaging over 6000 people from the local environment, while 18 others were experiencing unspecified challenges.He was accompanied by other members of the management team, including Hajia Gbemi Tafawa Balewa.Isiaka who was part of the team that conceived the idea of FTZ during the administration of the then Governor Gbenga Daniel, disclosed that the new management board would make changes in the structure of the zone to reflect the law of the land and accommodate the interest of the host community.According to him, a Memorandum of Understanding would be drafted soon to be signed by critical stakeholders, including the local community to ensure harmonious relationship required for smooth business operations while community social responsibility will henceforth be taken seriously.
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