The Federal Government has approved four international airports, Abuja, Lagos, Port Harcourt, Kano, as Special Economic Zones (SEZ).
The Minister of Aviation, Senator Hadi Sirika, disclosed this on his Twitter handle on Thursday.
The tweet reads: “I am very glad to announce that the president has approved our four international airports as Special Economic Zones. These are Lagos, Kano, Abuja and Port Harcourt. Our roadmap is working.”
A Special Economic Zone is an area in which the business and trade laws are different from the rest of the country, and are usually located within a country’s national borders or airports, and operates as an investment or manufacturing hub with tax relief and other conveniences as incentive.
Such trade zones bring in development and promote exports of goods and services; investment from domestic and foreign sources; creation of employment opportunities and the development of infrastructure facilities.
There are five designated international airports in Nigeria – Lagos, Kano, Abuja, Port Harcourt and Enugu airports.
Only Enugu is left out of the SEZ.