NEPZA Seeks 10-Year Tax Break for SEZ Investors

By Oluwakemi Kindness 

The Nigeria Export Processing Zones Authority (NEPZA) has urged the Federal Government to grant a minimum 10-year tax relief to operators in the Special Economic Zones (SEZs) to enable them adjust to the country’s new tax laws and remain competitive.

NEPZA made the appeal during a virtual stakeholder dialogue hosted by the Federal Ministry of Industry, Trade and Investment in Abuja.

Managing Director of NEPZA, Olufemi Ogunyemi— represented by Haleema Kamba, Director of Corporate Services said the appeal became necessary following rising anxiety among SEZ operators locally and internationally over the impact of the new tax regime.

A statement on saturday by the Head Cooperate Communication, Martin Odeh, warned that the operators’ concerns, widely echoed across global investment forums, could undermine Nigeria’s ability to attract Foreign Direct Investment (FDI).

Ogunyemi said tax incentives are the “nucleus of the SEZ scheme”, providing stability and predictability to investors. Offering a 10-year “sunset period”, he argued, would give existing investors time to realign operations while maintaining confidence in Nigeria’s business environment.

According to him: “The Managing Director/CEO has instructed me to make this special appeal to the Chairman of the FIRS, 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.”

NEPZA said Nigeria’s 63 Free Trade Zones and over 700 enterprises operating within them remain central to the country’s industrialisation and export strategy.

Ogunyemi stressed that these zones could generate significant revenue if allowed to operate under globally competitive tax conditions.

He reaffirmed NEPZA’s alignment with the Federal Government’s Renewed Hope Agenda, pledging continued collaboration with FIRS and other stakeholders to ensure:
• Stability
• Competitiveness
• Investor confidence

The NEPZA boss noted that investors are currently preparing their 2026 business plans and therefore require certainty and clarity in the tax system. He commended the government for engaging stakeholders transparently through the dialogue.

Minister of Industry, Trade and Investment, Jumoke Oduwole, emphasized that ongoing reforms, including updates to the national revenue framework, SEZ incentives, and Financial Reporting Council requirements are vital for building a competitive environment for trade, investment, and economic growth.