NNEPZA, OGFZA Commended Over National Tax Policy Intervention
By Naija Enquirer Staff
The Nigeria Economic Zones Association (NEZA) has commended the Managing Directors of the (NEPZA) and the (OGFZA) over their recent call for a ten-year moratorium before the implementation of the National Tax Policy (NTP) within Nigeria’s Free Zones.
NEZA described the intervention by the two free zone regulatory bodies as bold, forward-thinking and timely, noting that it aligns with concerns earlier raised by the association.
The association warned that the abrupt implementation of the National Tax Policy without a clearly defined transitional framework would be counterproductive, potentially triggering capital flight by existing investors and discouraging new investments into the Free Zone scheme.
“We view the proposal for a ten-year moratorium as a strategic buffer that allows for policy harmonisation, investor engagement, regulatory clarity, and the development of a globally competitive incentives framework tailored for zone-based enterprises,” NEZA Executive Secretary, I.O. Elegbede, said.
According to NEZA, Free Zones play a critical role in attracting foreign direct investment, promoting exports, creating jobs and enhancing industrial development, and any policy shift affecting the zones must be carefully managed to avoid undermining these gains.
The association urged NEPZA and OGFZA to sustain their collaborative advocacy efforts to preserve the integrity and attractiveness of Nigeria’s Free Zone scheme.
“We remain committed to working with all relevant authorities to ensure that no policy undermines the competitiveness and sustainability of Free Zones in Nigeria,” NEZA stated.
Stakeholders have continued to emphasise the need for consistency, predictability and investor-friendly policies as Nigeria seeks to strengthen its non-oil revenue base and position itself as a competitive investment destination.
