NAN-HE-21
Zone
By Akeem Abas
Ibadan, Nov. 1, 2016 (NAN) Oyo State Government and China Polaris Group are to establish $2billion Polaris Pacesetter Free Trade Zone (FTZ) at Ibadan-Lagos express way in the Oluyole local government area of the State.
The News Agency of Nigeria (NAN) reports that the ground breaking of the two billion dollars project was performed on Tuesday.
Gov. Abiola Ajimobi of Oyo State said that 1,000 hectares had been provided for the first phase of the FTZ which would gulp 500 million dollars.
“Today, we are not just performing the ground-breaking of the Polaris- Pacesetter FTZ. We are indeed breaking new grounds in the industrialisation of Oyo State.
“This serves as our contribution to the injection of the much needed antidote for the recovery of the ailing national economy.
Ajimobi described it as a game changing project which would have a lot of multiplier effects in repositioning the state, which was the gateway to the North and East of Nigeria.
He said the FTZ would be the industrial hub of the country and West Africa with tremendous potentials for employment generation, wealth creation and technological advancement.
According to him, the fastest way to growth and development is through industrialisation. The industrialisation should be built on the template of the Asian Tigers.
“This FTZ is our injection into reviving the ailing economy of the country. The future belongs to those that prepare for it today.
“So, we are preparing for a beautiful future for the economy of the state. It represents our future and milestone in our strategic development of repositioning of the state.
“We will complement the FTZ with parks in every part of the state.”
Mr Zhang Wendong, the President of China Polaris Group, said that automotives, solar energy, building materials and lots more would be manufactured at the FTZ, which would begin as soon as possible.
“About 8,000 manufacturers will be brought to Ibadan. Ibadan will be free from epileptic power supply in two to three years through the solar energy to be manufactured at the FTZ.
“The FTZ to be completed soon will make the state economically viable”, he said.
Miss Zhang Xuemie, the head of Chinese government delegation, said the government of China was in support of the project, adding that she was optimistic that the state will be a better place in the nearest future.
Dr. Mufutau Raheem, the Project Facilitator, said 120 factories had registered interests in the first phase of the project, adding that FTZ would the first of its kind in Africa.
There will be an automotive hub, where 15 automotive companies will assemble cars, buses and trucks and likewise have a sister FTZ in China.
“The FTZ would be a manufacturing hub, where electronics and healthcare products will be manufactured. So, creative and animation industry and integrated logistics are hosted,” he stated. (NAN)
TAA/IEA
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Edited by Idahosa Asowata