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Special Economic Zones and Extractive Practices in Nigeria: A Comprehensive Guide

Fyodor Dostoevsky

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Published in Enclaves Of Exception: Special Economic Zones And Extractive Practices In Nigeria

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Special Economic Zones (SEZs) are designated geographical areas within a country that are subject to different economic regulations than the rest of the country. They are often created to attract foreign investment and promote economic growth in specific sectors. In Nigeria, SEZs have been established with a focus on extractive industries, such as mining and oil and gas.

Enclaves of Exception: Special Economic Zones and Extractive Practices in Nigeria

by Roger Southall

5 out of 5

Language	:	English
File size	:	24943 KB
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Print length	:	252 pages

Legal Framework

The legal framework for SEZs in Nigeria is governed by the Nigeria Export Processing Zones Act of 1992. This act provides the legal basis for the establishment, operation, and regulation of SEZs in the country.

The act establishes the Nigeria Export Processing Zones Authority (NEPZA) as the regulatory body for SEZs. NEPZA is responsible for approving the establishment of SEZs, as well as monitoring and enforcing compliance with the regulations.

Economic Implications

SEZs can have a significant impact on the economic development of a country. They can attract foreign investment, create jobs, and boost exports.

In Nigeria, SEZs have been established in areas rich in natural resources, such as the Niger Delta region. These SEZs have helped to attract investment in the mining and oil and gas industries, which has led to increased economic growth and job creation.

Environmental Sustainability Concerns

While SEZs can have a positive economic impact, they can also raise environmental concerns. Extractive industries, such as mining and oil and gas, can have a negative impact on the environment.

In Nigeria, there have been concerns about the environmental impacts of SEZs in the Niger Delta region. These concerns include air pollution, water pollution, and deforestation.

NEPZA has taken steps to address these concerns by establishing environmental regulations for SEZs. These regulations require SEZ developers to implement measures to mitigate the environmental impacts of their operations.

Special Economic Zones (SEZs) can be a valuable tool for economic development in Nigeria. They can attract foreign investment, create jobs, and boost exports. However, it is important to carefully consider the environmental impacts of SEZs and to ensure that they are developed in a sustainable manner.

This article has provided a comprehensive overview of SEZs and extractive practices in Nigeria. It has explored the legal framework, economic implications, and environmental sustainability concerns associated with SEZs in the country.

Enclaves of Exception: Special Economic Zones and Extractive Practices in Nigeria

by Roger Southall

5 out of 5