Mathew Amaechi
In a push to safeguard national revenue and ensure accountability, the Nigeria Export Processing Zones Authority (NEPZA) and the House of Representatives Committee on Public Accounts have pledged to strictly enforce regulations guiding operations within the country’s Free Trade Zones.
This resolution emerged during an oversight visit by the committee to the Dangote Refinery and Petrochemicals Free Zone Enterprise and the Lagos Free Zone in Ibeju-Lekki, Lagos — two of the most high-profile industrial hubs in the country.
NEPZA’s Managing Director and Chief Executive Officer, Dr. Olufemi Ogunyemi, reaffirmed the authority’s resolve to uphold fiscal discipline and ensure full remittances from licensed enterprises into the Federation Account.
“We have again notified all operators of our readiness to strictly apply the regulation to achieve maximum compliance,” Ogunyemi stated in a press release signed by NEPZA’s Head of Corporate Communications, Martins Odeh.
While Ogunyemi acknowledged that some Free Trade Zones and enterprises have met their remittance obligations, he emphasized that NEPZA would no longer overlook lapses. “We are committed to transparency, accountability and fiscal probity across all zones,” he added.
The NEPZA chief also commended the operational excellence of both the Dangote Refinery and the Lagos Free Zone, calling them “key players in Nigeria’s industrial advancement.” Still, he noted that all operators must redouble efforts to fulfill their financial responsibilities to the government.
Chairman of the Public Accounts Committee, Hon. Bamidele Salam, echoed this sentiment. He described the visited zones as successful examples of what the Free Trade Zone scheme can achieve, especially in attracting investment and boosting industrial growth. But he stressed the need for systemic reforms and broader coverage.
“We are impressed by what we have seen. These zones clearly demonstrate the potential of the FTZ scheme. However, NEPZA must work harder to expand these benefits to other regions for national balance in industrial development,” Salam said.
He added that the committee was concerned about inactive zones and operators holding licenses without delivering value. “The MD and his team must move quickly to address the issue of dormant licenses. These should not remain in the hands of non-operational entities,” he warned.
Currently, Nigeria boasts 42 active Free Trade Zones, with over 500 licensed enterprises operating under NEPZA’s supervision. The Lagos Free Zone and the Dangote Refinery — both pivotal to the country’s economic strategy — are expected to serve as compliance benchmarks moving forward.
The legislative and regulatory collaboration marks a significant step toward tightening oversight in the scheme, with an eye on boosting revenue and fostering equitable industrial development nationwide.
