The Nigeria Export Processing Zones Authority (NEPZA) has called on the Federal Government to approve a 10-year exemption from newly introduced tax laws for operators within Nigeria’s Special Economic Zones. Managing Director of NEPZA, Dr. Olufemi Ogunyemi, made the appeal during a virtual stakeholder dialogue organised by the Federal Ministry of Industry, Trade and Investment. He was represented by the Director of Corporate Services, Mrs. Haleema Kamba.
Ogunyemi explained that the proposed 10-year window would help operators adjust to Nigeria’s evolving regulatory landscape while easing concerns consistently raised by both local and international investors. He noted that the lingering uncertainty surrounding the new tax regime is already undermining efforts to attract Foreign Direct Investment into the country.
According to him, tax incentives remain central to the operational framework of Special Economic Zones, and a structured sunset period would provide the stability and predictability investors require. He urged the Federal Inland Revenue Service to consider the request in the interest of sustaining investor confidence and strengthening linkages with the domestic economy.
The NEPZA chief highlighted that Nigeria’s 63 Free Trade Zones and over 700 enterprises operating within them play a critical role in driving industrialisation and boosting non-oil exports. He stressed that the full revenue potential of the zones can only be realised under a competitive incentive structure capable of attracting and retaining long-term investment.
Ogunyemi added that clarity and certainty in the tax environment have become even more urgent as investors prepare their 2026 business strategies. He described the stakeholder dialogue as a positive demonstration of government’s commitment to transparency, collaboration and a predictable business climate.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, reaffirmed the importance of ongoing reforms, stating that updates to the national revenue framework, Special Economic Zone incentives and Financial Reporting Council compliance rules will create a more competitive environment for trade, investment and economic expansion.
Agnes Ekebuike Editor, Naija247news ✔
Agnes Ekebuike is the Editor of Naija247news.com. A seasoned journalist with expertise in Business, Energy, Politics, and Entertainment, she is known for her in-depth reporting and insightful storytelling. Agnes is passionate about delivering news that informs, empowers, and sparks meaningful dialogue across Nigeria and beyond.
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