The Nigeria Export Processing Zones Authority (NEPZA) and the House of Representatives Committee on Public Accounts have pledged to strictly enforce regulations governing Free Trade Zones (FTZs) across the country.
During the visit, NEPZA’s Managing Director, Dr. Olufemi Ogunyemi, emphasized the agency’s renewed focus on regulatory compliance and fiscal transparency. He noted that while some zones have made remittances to the Federation Account, NEPZA will now apply regulations more rigorously to ensure full compliance.
“The Authority has again notified all operators of its readiness to strictly apply the regulation to achieve maximum compliance,” Ogunyemi said, reaffirming NEPZA’s commitment to transparency and accountability.
He also commended the contributions of the Lagos Free Zone and the Dangote Refinery to Nigeria’s industrial growth but urged all FTZs to fulfill their obligations to the government.
Chairman of the Public Accounts Committee, Hon. Bamidele Salam, expressed satisfaction with the investments and industrial activities at the zones. He underscored the importance of expanding the FTZ model nationwide to promote balanced economic development.
“We are impressed with the operations here. However, NEPZA must work harder to replicate these successes across other regions of the country for equity and national growth,” Salam said.
Nigeria currently hosts 42 active Free Trade Zones with over 500 licensed enterprises. The committee stressed that compliance by the likes of Dangote Refinery and the Lagos Free Zone would serve as a standard for others. It also urged NEPZA to act swiftly against inactive operators holding unused licenses.
