30 April 2004
Nigeria's premier export processing zone, the Calabar Free Trade Zone (CFTZ) has netted investments worth about 200 million dollars.
The News Agency of Nigeria (NAN) reports that the zone, started in 1992 had remained inactive until November 22, 2001, when President Olusegun Obasanjo formally commissioned the facility.
Briefing the delegation of the Nigerian Ports' Consultative Council (PCC), on a guided tour of the zone on Wednesday, the CFTZ assistant general manager in charge of operations, Mr David Chun-Gyang, said the zone had witnessed increased economic activities with the inception of democratic rule in 1999.
Chun-Gyang explained that the zone raked in total revenue of N285 million in 2003, adding that already 195 investors were on ground at the zone.
He added that the zone had offered employment to 1,500 permanent staff and 3,000 casual employees.
According to Chun-Gyang, the zone is like a country within a country with its separate customs, police service, and electricity supply and telecommunication network.
The assistant general manager said the zone occupied a land area of 152 hectares and that only 130 hectares had so far been utilised.
He said the zone was well equipped to take care of investors.
In his address, the leader of the delegation and chairman of Nigerian Ports Consultative Council (PCC) Dr Waheed Kareem, said they were in Calabar for a conference of stakeholders in the maritime industry.
Kareem said the conference would discuss ways of making Calabar port efficient and busy, as well as how to make optimal utilisation of its facilities.
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