The outgoing Director of the Calabar Free Trade Zone (CFTZ), Princess Binta Saeed, says eight new investors were registered during her tenure, with the enterprises expected to generate about ₦8 billion in revenue for the Nigeria Export Processing Zones Authority (NEPZA).
Saeed, who is due to retire next month after assuming office in July last year, said some of the investors had already commenced operations, while others were at various stages of development.
She described her time at the zone as productive and pledged to continue supporting NEPZA after retirement through advisory contributions whenever necessary.
According to her, one of the major challenges during her tenure was the impact of this year’s heavy rainfall, which caused severe erosion and damaged parts of some factories within the zone.
She cited Agrium Industries and Northwest as among enterprises affected by the environmental challenges.
The director also disclosed that intervention efforts helped avert a potential disaster at the Ontario project site, which was at risk of collapse and could have threatened nearby communities and petroleum storage facilities.
Saeed said she engaged First Bank, which had acquired the project from the original investor, to commence rehabilitation works before the rainy season worsened the situation.
Looking ahead, she expressed optimism about the future of the zone, noting that ongoing initiatives by NEPZA management would attract more investors and create jobs.
She, however, called on the Federal Government to improve infrastructure around the zone, particularly the access road, describing its current condition as unsuitable for an international investment destination.
