The Nigeria Export Processing Zones Authority has appealed to the federal government to grant operators within Nigeria’s Special Economic Zones a 10-year exemption from the newly introduced tax laws.

Olufemi Ogunyemi, managing director of NEPZA, made the appeal during a virtual stakeholder dialogue organised by the Federal Ministry of Industry, Trade and Investment.

Mr Ogunyemi said that it would enable them to adjust their operations to the evolving regulatory environment. He said the request had become necessary in light of persistent concerns raised by operators across local and international platforms.

He said that the uncertainty was negatively affecting efforts to attract foreign direct investment into the country. According to him, tax incentives remain central to the Special Economic Zone scheme.

“A 10-year (sunset period) will offer stability, predictability and stronger linkages with the domestic economy. I am making this special appeal to the chairman of the Federal Inland Revenue Service for a sunset period of approximately 10 years for all our investors. We hope the Chairman will consider this for the benefit of the scheme,” he said.

Mr Ogunyemi said that aligning incentives with global best practices would help Nigeria strike a balance between revenue collection and its commitments to investors. He said that the country’s 63 free trade zones and more than 700 enterprises operating within them remained crucial to Nigeria’s industrialisation and export strategy.

He said that the Zones’ revenue potential would only be fully realised if the scheme continued to operate under a competitive incentive structure capable of attracting and retaining investors for sustainable operations.

“Nigeria is open for business, and NEPZA will continue to stand with FIRS and other relevant stakeholders through this transition, ensuring stability, competitiveness and sustained investor confidence,” he said.

The NEPZA chief also stated the need for clarity and certainty in the tax environment, as investors prepare their 2026 business plans. He described the dialogue as a demonstration of the government’s commitment to transparency and collaboration.

Trade minister Jumoke Oduwole reiterated the importance of ongoing reforms. Ms Oduwole said that the national revenue framework, Special Economic Zone incentives and updated Financial Reporting Council compliance requirements would create a competitive environment for trade, investment and economic growth.