By Hajara Umar
The Nigerian Export Processing Zones Authority (NEPZA) has opposed some sections of the Customs Service Reform Bill that is before the National Assembly.
The contested aspect of the bill borders on a planned amendment. This amendment will give the Nigeria Customs Service (NCS) regulatory powers over the current free zones.
It is speculated that such development would further weaken, and destabilize Nigeria’s Special Economic Zones.
NEPZA said: “Free Zones are areas designated as such by the President to serve as a 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 cautious and avoid the temptation of allowing any legal framework to 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.
He added that by providing regulations for the free zones, NCS would be setting a dangerous precedent, as other agencies would now want to do the same.
Source: Anthony Otaru/ The Guardian