FG approves Four International Airports as Special Economic Zones

FG approves four International Airports as Special Economic Zones. Lagos, Kaduna, Port Harcourt and Kano are the airports that have been approved.

The Federal Government has approved the designation of four international airports as Special Free Economic Zones (SEZ). 

Minister of Aviation, Hadi Sirika said, “I am very glad to announce that Mr. President has approved our four international airports as Special Economic Zones. These are Lagos, Kano, Abuja, and Port Harcourt. Our roadmap is working.” He revealed this on his twitter page on Thursday Morning, the 20th of May, 2021.

An SEZ is a zone with business and trade laws that are different from the rest of the country . The SEZ is usually situated within a country’s national borders with the primary aim of increasing investment, job creation, and effective administration.

Nigeria has many Free Trade Zones and aviation stakeholders say the Federal Government’s latest move will encourage the exportation of goods and services, investment from domestic and foreign sources, create employment opportunities and develop infrastructure facilities. 

However, the government failed to mention what the status of Akanu Ibiam International Airport will be when it reopens for international flight operations. 

The Federal Government hopes that by approving these airports as special economic zones, the trade relations between Nigeria will be strengthened thereby improving the economic state of the country.

We recall that in the past trade relations has been one of the tools that has helped the Nation economically but recently there has been a reduction in our trade relations owing majorly to the corona virus pandemic.

As the Pandemic is slowly dying down because of the vaccine introduced, Nigeria and virtually the whole world looks forward to things returning back to the way they used to be.

But while we wait for life to return to normal, the government is putting things in place to strengthen the economy before then.

As time progresses, we look forward to the outcomes of these decisions.

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