NEPZA Seeks 10-Year Tax Relief for Special Economic Zone Investors

NEPZA Seeks 10-Year Tax Relief for Special Economic Zone Investors

The Nigeria Export Processing Zones Authority (NEPZA) has appealed to the Federal Government to grant a minimum 10-year exemption from the newly introduced tax laws to all operators within the country’s Special Economic Zones (SEZs).

The Authority said the request became necessary as concerns raised by SEZ operators continue to reverberate across local and international platforms—an outcome it warned could undermine Nigeria’s efforts to attract Foreign Direct Investment (FDI).

NEPZA Managing Director and Chief Executive Officer, Dr. Olufemi Ogunyemi, made the appeal during a virtual stakeholder dialogue organised by the Federal Ministry of Industry, Trade and Investment on Thursday in Abuja. He was represented by the Director of Corporate Services, Mrs. Haleema Sani Kamba.

Dr. Ogunyemi noted that tax incentives are at the core of the SEZ model and that granting a 10-year “sunset period” would provide investors with the stability and predictability needed to align their operations with the new tax regime while maintaining strong backward linkages with the domestic economy.

“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,” Mrs. Kamba conveyed on his behalf.

She added that the Authority remains committed to the Renewed Hope Agenda of the current administration and continues to work towards improved efficiency and competitiveness within the Free Trade Zone ecosystem.

According to her, Nigeria’s 63 Free Trade Zones and more than 700 enterprises operating within them remain central to the nation’s industrialisation and export strategy. She maintained that the scheme could generate substantial revenue if allowed to function under globally competitive tax frameworks that prioritise investor-friendly incentives.

Dr. Ogunyemi reaffirmed NEPZA’s readiness to collaborate with the Federal Inland Revenue Service (FIRS) and other stakeholders during the ongoing transition, emphasising the need for clarity and certainty as investors prepare their 2026 business plans. He described the engagement as a demonstration of government’s commitment to transparency and dialogue.

Also speaking at the forum, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, underscored the importance of ongoing reforms covering the national revenue system, SEZ incentives, and updated Financial Reporting Council compliance requirements. She said these reforms are essential to strengthening Nigeria’s trade and investment environment and driving sustainable economic growth.