The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, who declared the summit open, said the concern of government with the suboptimal performance of the Nigeria’s Free Zone Scheme led to a ministerial audit in 2020, which examined the track records of free zone enterprises and their regulators since the inception of the scheme.
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Major investors in the Nigeria free trade zones (FTZ) have threatened to divest from the zones over a proposed reform by the federal ministry of industry, trade and investment (FMITI).