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The Free Trade Zone is a catalyst to business growth and economic expansion. It is also known as the export processing zone, free export zone and special economic zone. Whatever name it is called should not bother us, as it has been noted that the different terms over time and space often reflect the specific activities carried out within a particular zone. What should bother us is why we have not taken advantage of this opportunity to grow our economy? Clearly defined, a free trade zone is one or more special areas of a country where normal trade barriers such as taxes, tariffs and quotas are eliminated and bureaucratic requirements are lowered to attract new business and foreign investments. Corporations operating within a FTZ may also be granted certain host country income tax breaks or holidays as an additional incentive. These zones are often located in an underdeveloped part of the host country, and the zones are expected to promote economic activities and thus reduce pover...

Nigeria’s potential as a Business Process Outsourcing destination is very bright, Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Rajan Swaroop, has said in a report by the Punch Newspapers. Swaroop, who said this at an interactive session with newsmen in Abuja, added that the mobile operator with Indian origin would help Nigeria to harness the possibilities of BPO in the country. According to him, through outsourcing, Nigeria can create over one million jobs within a short period of time if the potential is harnessed. The Airtel boss disclosed that one of its partners, Spanco, a specialist in BPO, planned to establish in Nigeria and use it as a hub of its outsourcing operations in the African region. He added that with increasing wages in India, which had a reputation as global outsourcing destination, Nigeria stood a good chance to reap from the global outsourcing business reckoned to be worth multi -billion dollars per annum.