Channels Television
Updated December 14, 2020
A file photo of the Minister of Industry, Trade and Investment, Adeniyi Adebayo, at his office in Abuja.
The Nigerian government has suspended the issuance of licences for the operation of the Free Trade Zones (FTZ) in the country.
Minister of Industry, Trade and Investment, Adeniyi Adebayo, announced the decision on Monday at the inauguration of the panel set up for the evaluation of the performance of FTZs.
He stated that all applications for FTZ licences would henceforth not be processed, pending the completion of the panel’s assignment.
Adebayo noted that the key objective of the panel led by him was to provide a set of recommendations to improve the government’s strategy on FTZs based on a thorough evaluation of the current operations of FTZs.