From Atiku Sarki, Abuja
The Nigeria Export Processing Zones Authority (NEPZA) has called on the Federal Government to grant operators of Special Economic Zones (SEZs) a 10-year tax exemption to allow investors sufficient time to adjust to the new tax regulations.
The appeal follows persistent concerns raised by SEZ operators both locally and internationally, which NEPZA warned could undermine Foreign Direct Investment (FDI) and hinder the country’s industrialisation goals.
In a statement issued to Triumph in Abuja, Mr. Martins Odeh, Head of Corporate Communications, said Dr. Olufemi Ogunyemi, NEPZA’s Managing Director, made the request during a virtual stakeholder dialogue hosted by the Federal Ministry of Industry, Trade and Investment.
Dr. Ogunyemi, represented by Mrs. Haleema Sani Kamba, Director of Corporate Services, stressed that tax reprieves are central to the SEZ scheme, adding that a 10-year “sunset period” would provide stability, predictability, and seamless integration with local business environments.
“The Managing Director/CEO has instructed me to make this special appeal 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,” Kamba said, quoting Ogunyemi.
NEPZA highlighted that the 63 Free Trade Zones and over 700 enterprises operating within these enclaves form the backbone of Nigeria’s industrial and export strategy.
The Authority said maintaining incentives under a clear and predictable tax framework would attract and retain investors, ensuring sustainable growth and competitiveness.
Dr. Ogunyemi also emphasised the need for clarity within the tax system, particularly as investors prepare their 2026 business plans.
He described the dialogue as a demonstration of the government’s commitment to transparency and collaborative governance.
Reacting to the discussions, Dr. Jumoke Oduwole, Minister of Industry, Trade and Investment, noted that the reforms—including updates to the National Revenue System, SEZ incentives, and Financial Reporting Council compliance—were critical to creating a competitive trade and investment environment that supports economic growth.
NEPZA said it remains committed to working closely with FIRS and other stakeholders to ensure the SEZ ecosystem continues to deliver on the federal government’s industrialisation and export ambitions.