The Federal Government, ever interested in seeing the Nnewi
Automotive Industrial Park become functional as soon as
possible, has promised mouth-watering incentives to both
local and international investors interested in being part of the
landmark project. This was made known to the appreciative
audience by the Director General of Nigerian Export
Processing Zones Authority, NEPZA during the round-table
conference held at the Conv-Aj Event Centre in Nnewi on
May 11, 2018.



The Hon Chris Azubogu-initiated project, which is at an
advanced but critical stage of accomplishment, has attracted
keen interests from both local and international investors,
professionals and politicians. The legislator representing
Ekwusigo/Nnewi North/Nnewi South Federal Constituency in
the Green Chamber had informed the selected audience that
over 70 capable local investors are already angling for full
participation once the stage to do so is advanced.



Those investors must have been pleased to hear the DG
Emmanuel Jime, say affirmatively that at this stage of the
project that a legal framework will be prepared by NEPZA,
which would outlay a clear cut operational policy.
‘’Having procured land free of all encumbrances for the
project, the automotive industry must have infrastructures like
24/7 power availability, a raw material base, which is mainly
steel – resuscitating our steel industry is very paramount,
portable water, access roads and skilled workforce. NEPZA
understands that the state and federal governments are
already working in collaboration to provide these
infrastructures within the actualization time frame.
‘’However, the major incentives to would-be investors are
already mapped out by NEPZA. The authority will
incorporate the Nnewi Automotive Industrial Park into one of
the country’s industrial free zones, thus allowing investors to
benefit from the numerous incentives such zones enjoy.



These
incentives include: Low-interest easy access to loans at very
liberal conditions; Duty-free importation of raw materials;
Duty-free exportation of finished products; Exemption from all
forms of local government, state and federal taxes, levies for a
reasonable time within operation.


‘’It is also the responsibility of NEPZA to involve other
agencies of government like SON, NAFDAC, etc and of
course present the legal document through the Federal
Ministry Of Trade And Investment to the president for final
approval. But be rest assured, Mr. President is very
passionate about this project and won’t waste time to endorse
our package,’’ Mr. Jime informed.


He equally congratulated Hon Azubogu for his foresight and
passion towards the dream and actualization of the project
and further advised that aggressive marketing is needed from
Nigerian Investment Promotion Council, NIPRO in order to
attract the right investors as the automotive industry is a very
competitive market.


The event which attracted many foreign partners from United
Nations Industrial Development, Organisation, Mehindra
from India that produced the Project’s plan and others from
Holland, Japan, etc also witnessed the strong representation
of the state government. The Secretary to the State
Government, Prof. Solo Chukwulobelu led commissioners of
Budget & Planning and Trade & Commerce in persons of Hon
Mark Okoye and Christian Madubuko respectively.


The traditional rulers of all the fifteen communities within the
constituency were all present and of course those of the three
communities of Akwa Ihedi, Unubi and Uga that provided the
80 hectares of land for the gigantic project.