…targets export expansion
The Federal government has intensified stakeholders engagement in a bid to strengthen coordination of activities at the Nigeria Special Economic Zones (SEZs), improving the country’s production capacity.
Speaking at the SEZs stakeholders meeting, the Minister of Industry, Trade and Investors, Dr. Jumoke Oduwole, said, “Following the assumption of office in November 2024, we identified the ongoing tax reform process as a critical policy development with significant implications for Nigeria’s Special Economic Zones (SEZ) ecosystem.
“A key policy concern was the increasing diversion of goods produced within Free Zones into the Nigerian customs territory whilst continuing to enjoy fiscal incentives designed primarily for export-oriented activities.
This development has created an uneven competitive environment for manufacturers operating within the Customs Territory who remained subject to the full domestic tax regime.
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“When I stood before many of you at the Third Special Economic Zones Annual Meeting in February of 2025 (Q1 last year), I made a commitment: that this Ministry would work to align fiscal, monetary and trade policy so that our zones remain globally competitive.
“I am so stated the policy direction of the Tinubu Administration with regard to free zones. This stakeholder engagement forms a part of that delivery process, which has been ongoing since then.”
She explained that “after the February 2025 engagement and recognising the need to preserve Nigeria’s competitiveness as an investment destination while strengthening fiscal accountability, the Ministry commenced extensive engagements with the legislative and executive arms of government and private sector stakeholders throughout the development of the tax reform process to ensure that the impact of the tax legislations on the special economic zones scheme are aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda on the diversification of the economy through the increase of non-oil exports.
“Earlier this year in February 2026, I convened the Directors of FMITI’s Legal Services and Commodities and Export Departments, the Managing Directors of both Authorities, and their teams, and inaugurated the Special Economic Zones Legislative and Regulatory Reform Committee.
“These Regulations – 1) Nigeria Export Processing Zones Authority Regulations and Operational Guidelines for Free Zones in Nigeria, 2025; 2) Nigeria Export Processing Zones (Domestic Sales, Fiscal Alignment and Customs Treatment) Regulations, 2026; and 3) Oil and Gas Export Free Zones (Domestic Sales, Fiscal Alignment and Customs Treatment) Regulations, 2026 are the product of a whole-of-Ministry process, and they are being implemented through a whole-of-government approach”.
The Minister noted to charged stakeholders that “we must collectively stand against diversion of goods, mispricing related-party transactions, understating domestic sales, or dressing customs territory business in zone clothing.
“These unsavory practices are not victimless practices, and they are reputation, bringing the entire Scheme at risk—particularly under the new tax regime.
FMITI’s role is to protect your investment and to defend the competitiveness of this the at every forum where it is discussed, however, compliance is a condition precedent. The Ministry can only defend a clean scheme” she stated.