Nigeria earns N5bn annually from concession

The Director-General, the Bureau of Public Enterprises (BPE), Mr Alex Okoh, says the Federal Government will earn N5 billion annually from the planned concession of its two free trade zones, located in Calabar and Kano.
Okoh said this in his opening remarks at the investors webinar, organised by the BPE, in collaboration with the Nigerian Exchange Group and the Nigerian Investment Promotion Commission on Tuesday.
He said the planned concession of the two of the Federal Government free trade zones located in Calabar and Kano was expected to generate annual savings of about N5 billion into the federal treasury.
The BPE boss added that the planned concession would increase export earnings from the two special economic zones, to about 3 billion dollars over a period of five to seven years.
He said the bureau had listed over 36 projects and transactions this year across diverse sectors of the economy, including the power sector.
Okoh explained that these transactions and projects would see the sale and consession of power generation assets that would add about 3,300 megawatts to the national grid.
“The importance of power as an enabler for economy and industrial activities across all sectors of the economy continues to attract strong focus and attention of the Federal Government.


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