Ogun State’s Bold Move: Remo Economic Zone Seeks Free Trade Zone Approval from Federal Government
By Tayo Mabeweje
In a pivotal meeting at his Oke-Mosan office in Abeokuta, Ogun State, Governor Prince Dapo Abiodun made a fervent plea to the federal government. He sought approval for designating the Remo Economic Zone as a Free Trade Zone, emphasizing the urgency of enabling processing companies within the zone to commence operations.
Hosting the Minister of Industry, Trade, and Investment, Dr. Doris Nkiruka Uzoka-Anite, and her team, Governor Abiodun underscored the potential economic impact. He revealed that the entire economic zone, a collaboration between the state government and a third party, hinges on the Free Trade Zone status. This designation would empower global processing companies associated with the project to process raw materials and export them across the continent.
Governor Abiodun acknowledged the federal government’s scrutiny of Free Trade Zones and shared the challenges arising from the early execution of contracts by the partner. The pre-approved Free Trade Zone status was a crucial aspect of the project, and resolving the resulting tax-related issues is imperative for seamless progress.
Illustrating the state’s commitment to economic development, the governor detailed the creation of four economic zones in the last four and a half years, strategically positioned to cater to diverse investor preferences. He highlighted key infrastructure projects, such as the Epe-Ijebu-ode road and economic zones around Kajola and Yewa through Ota axis, facilitating efficient transportation of goods and people.
Governor Abiodun further disclosed plans to sign a Memorandum of Understanding with the partner for the construction of the Deep Seaport at Olokola. This initiative aims to complete the economic zones’ strategic circle, signaling a comprehensive approach to industrial and economic growth.
Expressing gratitude for the minister’s visit, Governor Abiodun anticipated strengthened ties between the state and the federal government. In response, Dr. Uzoka-Anite commended Ogun State’s developmental strides, affirming the federal government’s commitment to supporting the state’s industrialization efforts.
Ogun State’s proactive steps, evident in the collaboration between the state and federal government, mark a significant stride towards becoming an industrial hub. The move not only attracts investments but also positions the region for sustained economic growth, job creation, and overall development.