The Managing Director/Chief Executive, Nigeria Export Process Zones Authority (NEPZA), Olufemi Ogunyemi, said the country’s Free Trade Zones (FTZs) generated N11.1 billion between 2020 and 2023 as against the earlier N11.11 trillion erroneously captured in the authority’s submission to the Senate Committee on Trade and Investment.
He described the initial quoted figure as a regrettable typographical mishap.
He explained that the sum of N377.33 million was generated in 2020, while N3.11 billion accrued to the Federation Account in 2021 from the scheme.
He said total remittances from the scheme in 2022 stood at N3.44 billion, while N4.170 billion came through in 2023.
In a statement issued by Head of Corporate Communications, NEPZA, Martins Odeh, Ogunyemi said the scheme currently has 53 FTZs, harbouring 580 enterprises with a cumulative value of $30 billion.
According to him, the authority collects 20 types of revenues ranging from $500,000 -Declaration fees, $60,000 annually as Operation License (OPL) and $300 to $500 Registration fees in line with extant regulations on IGR.
