The Nigeria Export Processing Zones Authority (NEPZA) has called on the Federal Government to exempt all operators of the Special Economic Zones from the country’s new tax laws for at least ten years
According to NEPZA, this will give them time to adjust their operations to the new regulations.
The Managing Director of NEPZA, Dr. Olufemi Ogunyemi during a virtual stakeholder dialogue in Abuja said the call became expedient following the continued reverberation of the operators’ concerns across various local and global platforms.
He said tax reprieves constituted the nucleus of the scheme, noting that the measure, if granted, would provide stability, predictability, and seamless backward linkages with the local business environment.
Dr. Ogunyemi who was represented by the Director, Corporate Service, Mrs. Haleema Kamba explained that the country would strike the right balance between revenue collection and the promised incentives for the scheme if at least a 10-year “sunset period” of tax relief were granted.
“The Authority has continually aligned with the Renewed Hope Agenda of this administration to drive growth and efficiency within the Free Trade Zone ecosystem, noting that the scheme was pivotal to the country’s realizing sustainable economic growth and industrialisation.
“Our 63 Free Trade Zones and the over 700 Enterprises operating within those business enclaves will continue to serve as the cornerstone of Nigeria’s industrial and export strategy. The revenues the scheme could generate if left to operate under the global tax template, offering a potpourri of incentives as key sweeteners to attract and retain investors for sustainable operations.”
“Nigeria is open for business, and NEPZA will continue to stand with FIRS and other relevant stakeholders through this transition, ensuring stability, competitiveness, and sustained investor confidence.” Dr. Ogunyemi said.
The NEPZA boss, however, emphasised the need for clarity and certainty within the tax system as investors prepare their 2026 business plans. He described the forum as government’s commitment to transparency and collaboration.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole while speaking stressed the critical role of the reforms to cover the National Revenue System, Special Economic Zones incentives, and updated Financial Reporting Council compliance in creating a competitive environment for trade, investment, and economic growth.
Olusola Akintonde