President Muhammadu Buhari
President Muhammadu Buhari

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.