Federal Government Forms Technical Committee for Business Roundtable on Economic Diversification

Federal Government Forms Technical Committee for Business Roundtable on Economic Diversification

The Federal Ministry of Trade, Industry, and Investment (FMTII), in collaboration with Newwaves Ecosystem, has announced the formation of a Technical Committee for the upcoming “Renewed Hope Business Roundtable.” This event will focus on leveraging Free Trade Zones (FTZs) and Special Economic Zones (SEZs) to drive economic diversification.

Established on May 16, 2024, by the Permanent Secretary of FMTII, the Technical Committee aligns with President Bola Ahmed Tinubu’s “Renewed Hope Agenda.” This agenda emphasizes economic diversification through FTZs and SEZs, particularly targeting the agriculture and manufacturing sectors, enhancing revenue generation, creating employment opportunities, and attracting more foreign direct investments (FDIs).

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The FMTII approved a sixteen-member Technical Committee comprising various stakeholders, investors, and representatives from relevant government agencies. Members include representatives from FMTII, Nigeria Export Processing Zones Authority (NEPZA), Oil and Gas Free Zone Authority (OGFZA), Nigeria Economic Zones Association (NEZA), Newwaves Ecosystem, with NAPAAS as the Coordinating Consultant.

The Committee is chaired by Alhaji Umar. A. Mutallab, CON, FCA, with Mr. Jude Amalunweze acting as the Secretary. Other members include Mr. Femi Williams, Mr. Mohammad A. Bello (walin katsina), Maj. Gabriel Adofikwu, Mr. Abdulwahid Umar, Mr. Morgan Umahi, Mrs. Celestina Obiora, Mr. Aliyu Othman, Mr. Ogbonna Chiedebere, Engr. Eze Nnadi, Ms. Marie-Therese Eyo, Ms. Chidinma Udeogu, Mr. Haroon Al Amin, Mr. M.A. Barde, and Mr. Kabir Folorunsho.

The Technical Committee’s primary function is to facilitate the Business Roundtable, ensuring its success in exploring economic diversification through FTZs and SEZs. The “Renewed Hope Business Roundtable” will serve as a platform for generating new ideas and fostering interactive discussions on economic diversification. It aims to promote public-private partnerships for commercialization initiatives and open access to opportunities for investors within the Nigerian economic ecosystem.

Discussions during the roundtable will cover various topics, including employment generation, industrialization, manufacturing, agriculture, housing, transport, health, and infrastructure development. The committee will hold a pre-event press conference and establish sub-committees to manage different aspects of the roundtable.

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