By Joy Baba-Yesufu
The House of Representatives Committee on Public Accounts and the Nigeria Export Processing Zones Authority (NEPZA) have pledged to enforce stricter compliance with regulations guiding Free Trade Zones (FTZs), especially around remittances to the Federation Account.
This resolution followed the committee’s oversight visit to the Dangote Refinery and Petrochemicals Free Zone Enterprise and the Lagos Free Zone, both in Ibeju-Lekki, Lagos.
NEPZA’s Managing Director, Dr. Olufemi Ogunyemi, reaffirmed the Authority’s commitment to transparency and fiscal accountability, stating that while some zones have complied with remittance rules, NEPZA will now apply stricter enforcement across all operators.
“The Authority has again notified all operators of its readiness to strictly apply existing regulations to achieve full compliance,” Ogunyemi said.
He praised the Lagos Free Zone and Dangote Refinery as benchmarks of industrial excellence, but urged all FTZs to fulfil their obligations to the government.
Committee Chairman, Hon. Bamidele Salam, expressed satisfaction with the investment and infrastructure seen at both sites, but emphasized the need for a national spread of FTZs to promote equitable industrial growth.
“NEPZA must expand the scheme to other regions to ensure balanced development,” Salam said.
He also called for a review of dormant zones and a reallocation of licenses to active investors.
Nigeria currently operates 42 active FTZs hosting over 500 enterprises. The lawmakers noted that compliance by flagship zones like Dangote Refinery should serve as a model for others.
“The Free Trade Zone scheme must be refined to accelerate economic growth while ensuring all fiscal obligations are met,” Salam added.
