The presidency has expressed concern that plans of the President
Muhammadu Buhari administration to fast-track Nigeria’s industrial
development through the Special Economic Zones was being
misrepresented in the public, including at a recent public hearing in the
The presidency, in a document made available to Newsmen on Monday
in Abuja, said that Special Economic Zones was discussed and approved
by the Federal Executive Council .
The Senate had recently rejected the N15.63 billion budget proposals of
the Federal Ministry of Industry, Trade and Investment for 2019 because
of the Nigeria Special Economic Zones Investment Company listed for
N42 billion appropriation.
The document said there was a firm resolve in the Executive arm of
government to clarify issues and keep the SEZ plans and the strategy
adopted and already approved by the FEC.
The document said that when the Minister of Industry, Trade and
Investment, Okechukwu Enelamah presented the ministry’s 2019
Budget details to the relevant Senate committee, questions were raised
about the creation of a limited liability company with 25 per cent of
Federal Government interest.