Tuesday, 18th January 2022
<To guardian.ng
Search
Breaking News:

NEPZA kicks against provisions of Custom Service bill

By Anthony Otaru, Abuja
17 December 2021   |   2:42 am
The Nigerian Export Processing Zones Authority (NEPZA) has opposed some sections of the Customs Service Reform Bill before the National Assembly.

NEPZA

The Nigerian Export Processing Zones Authority (NEPZA) has opposed some sections of the Customs Service Reform Bill before the National Assembly.

The contested aspect borders on a planned amendment, which gives the Nigeria Customs Service (NCS) regulatory powers over the free zones.

It said such development would further weaken, subvert Nigeria’s Special Economic Zones.

NEPZA said: “Free Zones are areas designated as such by the President to serve as one-stop-shop investment hubs wherein incentives are provided in the form of tax holidays, simplified customs and immigration processes among others, to attract investors.”

It noted that the one-stop-shop concept in furtherance of which regulations were made for all the active free zones would be eroded if the provisions of the bill were allowed.

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.

The NEPZA team led by the Managing Director, Prof. Adesoji Adesugba, made the position known yesterday in a submission at the ongoing public hearing of the bill in the House of Representatives.

It added that by providing regulations for the free zones, NCS would be setting a dangerous precedent, as other agencies would want to do the same.