The Nigeria Export Processing Zones Authority (NEPZA) has appealed to the federal government to grant all operators within Special Economic Zones (SEZs) a 10-year tax exemption, aiming to give businesses sufficient time to adjust to Nigeria’s new tax regulations.
The call was made during a virtual stakeholder dialogue hosted by the Federal Ministry of Industry, Trade & Investment in Abuja, as the Authority highlighted ongoing concerns from SEZ operators at both local and international platforms. NEPZA warned that failure to address these issues could negatively affect Foreign Direct Investment (FDI) inflows into the zones.
Managing Director and Chief Executive Officer of NEPZA, Dr. Olufemi Ogunyemi, represented by Mrs. Haleema Sani Kamba, Director of Corporate Services, emphasized that tax reprieves are central to the success of the SEZ scheme. He said the measure would ensure stability, predictability, and seamless integration with the local business environment.
“The Managing Director has instructed me to formally request a sunset period of approximately 10 years for all SEZ investors,” Mrs. Kamba stated. “This period will allow operators to adjust operations while ensuring the scheme remains attractive to investors. We hope the Federal Inland Revenue Service will consider this appeal for the benefit of the sector.”
NEPZA reaffirmed its alignment with the Renewed Hope Agenda, noting that the SEZ framework is crucial to driving industrialization and sustainable economic growth in Nigeria. The Authority oversees 63 Free Trade Zones and more than 700 enterprises, which continue to form the backbone of Nigeria’s industrial and export strategy.
Dr. Ogunyemi added that maintaining global-standard incentives is vital to attracting and retaining investors, ensuring that SEZs operate efficiently while contributing to national development.
