$400m investment will grow economy, create 4,000 jobs — IPRFZ

The ongoing Industrial Platform Remo Free Zone (IPRFZ) project in Ogun State will significantly boost Nigerian economy and generate jobs, especially in the Southwest, the Chief Business Officer, Prasad Sane, has said. IPRFZ is a Public-Private Partnership of ARISE Integrated Industrial Platforms (IIP) and the Ogun State government, to design, finance, build and operate an […]

The ongoing Industrial Platform Remo Free Zone (IPRFZ) project in Ogun State will significantly boost Nigerian economy and generate jobs, especially in the Southwest, the Chief Business Officer, Prasad Sane, has said.

IPRFZ is a Public-Private Partnership of ARISE Integrated Industrial Platforms (IIP) and the Ogun State government, to design, finance, build and operate an integrated, world-class & sustainable Free Trade Zone (FTZ) in Sagamu.

Daily Trust reports that in the agreement signed with the Ogun State government, the initial investment was to the tune of $400 million.

Sane flanked by Dapo Oduwole, the Director-General, Office of the Public-Private Partnerships, at a media roundtable in Abeokuta, said the Arise Group with its footprint in ten African countries including Nigeria, has a mission to create one million jobs and turn Africa into the new green industrial powerhouse.

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 He disclosed that the first phase of construction is expected to be completed in 2026, and six customers have already secured plots to begin operations by June.

Sane said the IPRFZ is strategically located within the zone of the ongoing Agro-cargo airport at Ilishan-Remo, saying that the host state borders four other states with access to the West Africa market cluster.

 He identified an ecosystem/cluster approach covering all client needs across the entire value chain, strategic location, full support of the government, market expansion access as part of some of the advantages of investing in the zone.

According to him, the key sectors of focus are metallurgy industries, mining, construction and infrastructure development, textile manufacturing , real estate, renewable energy among others.

Sane explained that the hub has been designed to be a unique centre for manufacturing and innovation, which will accelerate Nigeria’s industrialisation drive.

He added that the Remo Free zone will attract both local and foreign direct investments, generate employment opportunities, and foster the development of skilled manpower.

Sane said the hub targets creation of 40,000 jobs in the current phase, saying that the organisation will be supporting investors in recruiting skilled manpower.

“The zone is the biggest advantage to any investor. This is a 45-year tenure. So, it is a long term. 

“I am very optimistic about Nigeria, what people say, I am very clear that Nigeria is a country in Africa that will grow and in the next five to ten years,  the situation will be completely different,” Sane said.

On his part, Oduwole said, “It is noteworthy that when IPR signed an agreement with the Ogun State government, the initial investment was to the tune of 400 million dollars and you will see that with the worth of the investment the return will be significant year on year.”