The Nigerian senate approved a bill to create a national industrial and technology park in the country as a mechanism for “clustering innovation-based industrial parks in Nigeria.”

The bill is sponsored by senator Ibikunle Amosun and is geared toward economic development, youth empowerment and capacity building.

Also, in support of the bill, senator Barau Jibrin said, “This is a bill that will help us to be fully industrialized. It will help us achieve the long-term objectives of the nation in terms of industrialization. I urge my colleagues to support this Bill to bring full scale industrialization to this country.”

The senate president, Ahmad Lawan who commended senator Amosun for the bill, noted that a better security environment needs to be provided.

“We have to work together across all the levels of government to ensure we create and sustain a better security environment that will encourage investors,” president Lawan said

The bill has been referred committee on trade and investment to report back to the House, within four weeks for legislative action.

“The establishment of parks, such as this, makes it easier for companies and entrepreneurs to leverage the availability of resources, technical know-how, knowledge, and professionalism, which can pave the way for developing and testing business and technology solutions,” declared senator Ibikunle Amosun.

The goal of this project is to attract investments from major digital industry players and to drive technological development in line with the Nigerian government's 2022-2025 digital development strategy. It is expected that the industrial technology park will assist in the diversification of the national economy and attract companies that can create jobs, as well as it will help increase incomes and channel more financial resources into the country while enabling it to become an industrial nation.

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