More states are now drawing Free Trade Zone (FTZ), inspirations from Lagos, Delta and Rivers States to drive their state economies.
Latest in the row is Benue State Government who has signed a memorandum of Understanding (MoU) with Golden Shalke Limited, to build and manage FTZ in the agrarian state with the hope of employing over 10,000 youths.
In his remarks shortly before signing the MoU on behalf of the Government, the Commissioner of Industry, Trade and Investment, Dr. Tersoo Kpelai, said the agreement will enable the company to have easy access financial institutions to carry out the project.
He expressed joy that the FTZ will take care of the state’s power problem, which has over the years been a stumbling block to industrial and economic growth as well as the road networks.
On behalf of the state government, Kpelai assured the investor of commitment to providing the enabling environment.
In his response, Chairman of Golden Shalke Limited, Dr. Samuel Shangevde Adzongo, said at least $500 million will be injected into the project to develop an industrial park hosting, hospital, a five-star hotel, 20-megawatt power plant, Agro processing industries to enhance agricultural value chain, pharmaceutical hub and building material hubs.
According to him, “By the time the projects will be completed, not less than 10,000 youths will be employed. We also hope this administration will commission some of the projects before the end of 2019, to give the government a new tag”.
He promised to travel round the world to source for resources, as well as invite partners from Germany, America, and China, to come and play critical roles in the project. He added that machinery and equipment will start arriving in the state over the next three months.
Adzongo noted that “Our organisation has already started a business round table in Makurdi, and we urge you, the commissioner and other interested members of the public to become members to harness better ways of breaking poverty level in the state”.
