The Nigerian Export Processing Zones Authority (NEPZA) has opposed some sections of the proposed Custom Service reform bill before the National Assembly especially the aspect of the amendment that will give the Customs Service regulatory powers in the Free Zones.
It says such development will further weaken, subvert Nigeria’s Special Economic Zones.
The NEPZA team led by the Managing director, Adesoji Adesugba, made the position known in a submission to the ongoing public hearing on the Custom reform bill at Nigeria’s House of Representatives,
NEPZA said, “free Zones are areas designated as such by the President to serve as one-stop-shop investment hub wherein incentives are provided in form of tax holidays with a view to attracting investors.”
The Authority, therefore, urged the National Assembly to be circumspect by avoiding the temptation of allowing any legal framework that would cripple NEPZA and the free zone scheme.
