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The Federal Government has reaffirmed its commitment to supporting operators of Free Trade Zones (FTZs) in Nigeria, aiming to boost the global competitiveness of the scheme.
Olufemi Ogunyemi, Managing Director of the Nigeria Export Processing Zones Authority (NEPZA), emphasized that the government is dedicated to driving economic growth through the FTZs scheme, in line with global best practices.
Mr. Ogunyemi acknowledged concerns raised by stakeholders regarding the proposed Tax Reform Bills 2024, which some fear may harm the scheme. However, he assured that the new tax policy is not entirely negative and encouraged stakeholders to attend the public hearing on the bills to express their views.
“We are working behind the scene to ensure that genuine concerns of the stakeholders… are expunged in the interest of all,” he said. He also highlighted President Bola Tinubu’s commitment to nurturing the Special Economic Zones (SEZs) scheme to full maturity.
The NEPZA boss emphasized the importance of the SEZs in achieving the Presidential Priorities, including food security, poverty eradication, economic growth, and job creation.
He stressed the need for enhanced collaboration between government agencies to improve SEZ operations and deliver world-class services.
“Together, we can position Nigeria as a leader in industrialisation and trade, fostering sustainable economic growth for generations to come,” he said.
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