Vice President Mohammed Namadi Sambo has said that
the President Goodluck Ebele Jonathan led Administration is determined
to create a vibrant private sector in the country.
Vice President Sambo stated this Thursday, May 23 when he performed the
ground breaking ceremony of the Idu Industrial Park in Abuja.
To this end Vice President Sambo said government had instituted series
of reforms and incentives that would create competitive advantages for
the private sector in the country particularly in the face of rapidly
increasing globalisation.
“These incentives include 3-5 year Tax moratorium, 100% Repatriation of
Profit (100%), 140% Capital Allowances on Research & Development,
20% Capital Allowances for 5 years on local raw materials utilization
and 30% tax relief on expenditure in respect of public infrastructure”,
he said.
While commending the Federal Capital Territory Administration and Messrs
Zerberced Limited for the laudable initiative, ingenuity, altruism and
for promoting the Transformation Agenda, he directed relevant government
agencies to assist them in the execution, operation and attraction of
patronage from both local and foreign investors.
“The Federal Capital Territory Administration has displayed a high sense
of responsibility and responsiveness in the implementation of the
Transformation Agenda. The collaboration with Messrs. Zeberced Limited
for the establishment of an industrial Park is therefore in line with
our National Implementation Plan under the Nigeria’s Vision 20: 2020.”
In his remarks, the host of the occasion and the Minister of FCT,
Senator Bala Mohammed said that the initiative was a fallout from
President Goodluck Ebele Jonathan’s 2011 State visit to Turkey. He noted
that the project is wholly private sector-driven and factored under the
FCT Land Swap Policy.
He added that the Project when completed would provide over 40,000 jobs
and over 170 small and medium scale industries. While calling on
investors to take advantage of the opportunities that abound in the FCT
he said “those who sit back and drag their feet will have a rude
awakening in no distant time, when the early birds begin to count their
grains.”
In his remarks the Managing Director of Zeberced and the project
investor, Mr. Adil Kurt said that the project situated on 250 hectares
of land would provide an integrated infrastructure to the tune of 200
million dollars. He said the project which is all encompassing would
boast of road network, sewage system, natural gas pipeline, a rail link
to the national rail corridor and independent power supply. He further
said that the project involves 177 factory plots and other sundry
facilities.
Present at the occasion were the Minister of Trade, Industry and
Investment, Dr. Olusegun Aganga and the Minister of State, FCT, Mrs
Olajumoke Akinjide. Others were members of the National Assembly,
traditional rulers and numerous other dignitaries.
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