By GRASSROOT REPORTERS
The Tinapa Free Trade Zone, once a beacon of economic promise, is set for a revival as the Federal Government announces plans to restore its operations before the end of 2025.
The Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), Dr. Olufemi Ogunyemi, revealed this during an interview with Channels TV, monitored by GRASSROOT REPORTERS, highlighting ongoing efforts to address the challenges that have left the zone dormant for years.
Dr. Ogunyemi explained that NEPZA has been working closely with the Cross River State government to resolve longstanding issues, including accumulated debts and inconsistent support from successive administrations. "Tinapa is a perfect example of why some free trade zones in the country are not operational, especially when state governments are involved," he said.
He pointed out that changes in political leadership often disrupt continuity, with new administrations sometimes abandoning projects initiated by their predecessors. "A governor sets up a free trade zone, but the next administration, whether from a different party or even the same party, may not prioritize it. This lack of consistency has been a major setback," Dr. Ogunyemi noted.
He also emphasized the financial obligations tied to free trade zones, such as annual licensing renewal fees, which can amount to $60,000. "These fees accumulate over time, and before you know it, 10 years have passed, and the zone remains inactive," he added.
Despite these challenges, Dr. Ogunyemi expressed optimism about Tinapa's future, citing collaborative efforts between NEPZA and the zone's management to resolve its debt issues and provide the necessary support for its revival. "The general manager of Tinapa has been working closely with us to find a way forward. We are committed to getting Tinapa back on its feet," he assured.
Tinapa, launched in 2007, was envisioned as a premier business and tourism hub but has struggled to fulfill its potential due to poor management and lack of investor confidence. Its revival is expected to boost economic activities in Cross River State and create opportunities for trade and investment.
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