The Nigeria Export Processing Zones Authority (NEPZA) has urged the Federal Government to exempt all operators in the Special Economic Zones (SEZs) from the country’s new tax laws for at least ten years to enable them adjust their operations to the new regulations.
The Authority made this call following the continued reverberation of the operators concerns across various local and global platforms, adding that such campaigns were deleterious to attracting Foreign Direct Investment (FDI) through the scheme.
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Olufemi Ogunyemi, Managing Director of the Authority, made the call during a virtual stakeholder dialogue hosted by the Federal Ministry of Industry, Trade & Investment in Abuja.
Ogunyemi, also 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.
Ogunyemi, represented by Haleema Sani Kamba, Director, Corporate Service, 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.
“We are appealing to the Chairman of the Federal Inland Revenue Service, requesting a sunset period of approximately 10 years for all our investors. We hope the Chairman will consider this for the benefit of the scheme.”
Ogunyemi explained that Nigeria’s 63 Free Trade Zones and more than 700 enterprises operating within them remain critical pillars of the nation’s industrialisation and export-led growth strategy.
According to him, these zones have the potential to generate substantial revenue for the country, but only if they are allowed to function under globally competitive tax conditions.
He added that the internationally accepted incentive structure for Special Economic Zones, which includes a mix of tax breaks and regulatory concessions, is essential for attracting new investors and sustaining existing ones. Without these incentives, he warned, Nigeria risks losing its competitive edge to other countries aggressively courting foreign investment.
“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,” Ogunyemi said.
The NEPZA boss, however, emphasised the need for clarity and certainty within the tax system as investors prepare their 2026 business plans, while describing the forum as the government’s commitment to transparency and collaboration.
