By Joy Odor – Reportcircle News
In a forceful appeal that has rippled across Nigeria’s investment community, the Nigeria Export Processing Zones Authority (NEPZA) has urged the Federal Government to grant a minimum 10-year exemption from the country’s newly introduced tax laws for all operators within the nation’s Special Economic Zones (SEZs).
The call delivered with unusual urgency surfaced during a virtual stakeholder dialogue convened by the Federal Ministry of Industry, Trade & Investment on Thursday, where NEPZA’s Managing Director and CEO, Dr. Olufemi Ogunyemi, warned that the new tax framework, if applied immediately, could choke off foreign investment and undermine the very foundation of Nigeria’s export-driven industrial strategy.
Represented by Mrs. Haleema Sani Kamba, Director of Corporate Services, Ogunyemi did not mince words.
He described tax incentives as the “nucleus of the scheme,” insisting that SEZ operators need stability, predictability and room to recalibrate their operations in line with the evolving fiscal landscape.
“The Managing Director 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,” Kamba declared, underscoring how strongly the Authority believes the reprieve is essential to preserving Nigeria’s investment credibility.
NEPZA’s stance follows what it describes as growing apprehension reverberating across local and international investor platforms, potentially contaminating the narrative around Nigeria’s openness to business and diminishing the country’s ability to attract Foreign Direct Investment (FDI).
According to Ogunyemi, Nigeria’s 63 Free Trade Zones and more than 700 enterprises operating within them remain the bedrock of the country’s industrialization and export diversification agenda.
He argued that allowing the zones to operate under globally competitive tax conditions long recognised as essential sweeteners for investors would generate far more revenue in the long term than a rushed tax enforcement regime.
“Nigeria is open for business, and NEPZA will continue to stand with FIRS and other stakeholders through this transition, ensuring stability, competitiveness, and sustained investor confidence,” he said.
But beyond revenue projections, the Authority stressed an even more pressing concern: investors are now drafting their 2026 business plans, and without clarity, many may hesitate to expand or even maintain their Nigerian operations.
For Ogunyemi, consistency in tax policy is not just administrative housekeeping, it is the lifeline of investor trust.
The dialogue also saw Dr. Jumoke Oduwole, Minister of Industry, Trade & Investment, underscores sweeping federal reforms covering the National Revenue System, SEZ incentives, and compliance updates within the Financial Reporting Council framework.
She positioned the reforms as essential to building a competitive, transparent and resilient economy.
As Nigeria navigates this tense fiscal transition, NEPZA’s appeal now sits squarely before policymakers: Grant the 10-year tax shelter or risk shaking the confidence of the very investors the nation depends on for growth and industrial transformation.
