Imo Loses Multi-Billion Naira Trade Zone To Ogun  
 

8th Jan 2008

Imo State has lost the multi-billion naira Chinese Guangdong Free Trade Zone project at Ngor Okpala in which the past administration spent millions of naira, to Ogun, says Gov. Ikedi Ohakim.
Speaking at the first stakeholders’ forum in Owerri, Ohakim said the Chinese, handlers of the project, said they were dealing with many agents, who made multiple demands on them, including threats. He also said the Chinese alleged that the state government imposed unreasonable administrative fees on them.

The Governor further said the Chinese company cited the lack of security and the absence of a conducive environment for investment as reasons for relocating to Ogun. “But hope is not lost. If we cannot bring the Guangdong group back, we shall negotiate with another group,’’ he promised.

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