From Atiku Sarki, Abuja
The Nigeria Export Processing Zones Authority (NEPZA) and the House Committee on Public Accounts have resolved to strictly enforce regulations governing Free Trade Zones (FTZs) and enterprises operating within them, to ensure optimal remittances to the Federation Account.
This resolution was announced in a statement issued on Friday in Abuja by Dr. Martins Odeh, Head of Corporate Communications at NEPZA. The decision was reached during the committee’s oversight visit to the Dangote Refinery & Petrochemicals Free Zone Enterprise and the Lagos Free Zone on Wednesday.
In his welcome address, NEPZA’s Managing Director/CEO, Dr. Olufemi Ogunyemi, reiterated the Authority’s commitment to transparent and effective regulation of the zones.
He noted that while several functional zones and their associated enterprises have made notable remittances to the government, the need to activate and enforce regulations has become necessary to ensure full compliance.
“The Authority has again notified all operators of its readiness to strictly implement the regulations to achieve maximum compliance,” Dr. Ogunyemi stated.
“I want to assure the committee of our resolve to uphold the tenets of transparency, accountability, and fiscal probity in the management of the scheme.”
Dr. Ogunyemi expressed satisfaction with the activities at both the Lagos Free Zone and Dangote Refinery, but stressed that all FTZs in Nigeria must intensify efforts to meet their obligations to the government.
On his part, the Chairman of the House Committee on Public Accounts, Rt. Hon. Bamidele Salam, commended the Free Trade Zone scheme for its role in attracting both local and foreign investments.
He, however, emphasized that the zones were established to accelerate economic growth and industrialization, and that full regulatory compliance is essential to ensure complete remittances to the national treasury.
“We are impressed with what we’ve seen so far. The Dangote Refinery & Petrochemicals FZE and the Lagos Free Zone are commendable examples of the successes achieved through NEPZA’s efforts,” Salam said.
“Nevertheless, NEPZA must work harder to expand the scheme across other parts of the country to ensure equity and balanced industrial development.”
The committee chairman also expressed concern over the inactivity of some licensed zones, urging NEPZA to take urgent action to prevent unutilized licenses from remaining in the hands of non-operational entities.
“The committee understands that many of the zones are inactive for reasons beyond our immediate knowledge. We urge the NEPZA MD/CEO and his team to address this urgently and ensure that operational licenses are not wasted in the hands of non-performing operators.”