The Authority also threw its weight behind calls for a 10-year exemption for operators in special economic and free zones from the new tax law provisions.

Bamanga Usman Jada, OGFZA’s managing director and chief executive officer, made the disclosure during a town hall meeting with the Federal Inland Revenue Service (FIRS) and OGFZA licensees held on Thursday, 11 December 2025, at the Onne Oil and Gas Free Zone in Rivers State.

He argued that the proposed 10-year extension would provide operators with the “adaptation space” needed to transition and comply with evolving tax requirements, noting that Nigeria’s free zones have already generated hundreds of thousands of direct and indirect jobs across the country.

“Distinguished guests, I endorse the appeal presented last week by the Managing Director/CEO of the Nigeria Export Processing Zones Authority (NEPZA) during the stakeholder engagement organized by the Ministry of Industry, Trade and Investment. The request seeks a minimum ten-year exemption for operators in special economic zones and free zones from the new tax provisions, allowing sufficient time for adaptation.”

“Energy-oriented free zones have been pivotal in driving development in numerous nations, exemplified by the Jebel Ali Free Zone in Dubai and the Sohar Free Zone in Oman. These initiatives have drawn billions in investments, generated extensive employment opportunities, and positioned their economies as global leaders.”

“Similarly, OGFZA-regulated free zones in Nigeria have secured over $24 billion in investments, accommodated more than 200 enterprises, and created hundreds of thousands of direct and indirect jobs. This underscores the value of robust incentives and effective regulation in accelerating industrialization.”

“Accordingly, OGFZA supports the call for a ten-year extension of existing tax incentives, coupled with a phased implementation to mitigate potential disruptions. Many of our licensees, including prominent foreign investors, formulate strategies spanning 10, 15, or even 25 years, predicated on prevailing incentives. Granting this transitional period would reinforce the Renewed Hope Agenda and uphold policy consistency, a cornerstone for attracting sustained investment.”

“As the apex regulator of oil and gas free zones and administrator of the one-stop-shop framework, OGFZA remains integral to their enduring viability. Our efforts have been recognized through prestigious accolades, including the Best Federal Agency on Ease of Doing Business award from the Presidential Enabling Business Environment Council (PEBEC) in 2018, 2019, 2022, and 2024, as well as the Financial Times’ FDI Magazine designation as the best specialized free zone in 2018.”

The OGFZA helmsman commended the President of Nigeria, Bola Ahmed Tinubu for what he described as “his visionary leadership,” even as he thanked the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and the Minister of State, Senator John Enoh, for “their steadfast guidance and advocacy in supporting the sector.”

Under the leadership of President Bola Ahmed Tinubu, “exports from Nigeria’s oil and gas free zones have surged to 496,537,804 metric tons, generating substantial foreign exchange inflows. Our operators now supply markets in Brazil, the United States, France, India, the United Kingdom, the Republic of Korea, and beyond, aligning seamlessly with the President’s Renewed Hope Agenda.”

He reiterated OGFZA’s readiness to “sustain collaboration with FIRS, in accordance with our memorandum of understanding, to ensure the tax reforms are executed efficiently and equitably.”

Speaking at the event, Dr. Zacch Adedeji, the executive chairman of FIRS, argued that “the 2025 tax reforms mark a significant step in modernizing Nigeria’s fiscal frameworks.”

“For Export Processing and Free Trade Zones, the focus is not on taxation of income or profits of Zone entities, but on promoting transparency, accountability and proper reporting. By embracing compliance, collaboration and commitment to respecting obligations imposed by relevant tax laws, Free Trade zones can meaningfully contribute to national development, which is the very essence for implementing the Special Economic zones scheme,” he explained.

Represented by Dr. Cletus Adie, the Special Adviser on Tax Incentive Management, the FIRS boss condemned what he described as “continuous recalcitrant behaviours of some enterprises”, that have “motivated the deployment of a deliberate and structured administrative strategy that compels compliance by all enterprises, supported by section 72 (4) (f ) of the Nigerian Tax Administration Act. Accordingly, the need for the implementation of tax clearance certificate as a mandatory requirement for issuance of renewal of operating license has become crucial”, he stressed.

Stakeholders at the event unanimously called for the exemption for operators in special economic and free zones from the new tax law provisions, to enable them adjust.

Highlights of the event were special presentations, interactive, as well as question and answer session, among others.

Under the leadership of Dr. Zacch Adedeji, the chairman, FIRS reported that non-oil revenues accounted for roughly 76 per cent of the nine-month total, signalling progress in revenue diversification efforts.

Of the breakdown provided, oil tax revenue stood at ₦5.29 trillion, hitting 98 per cent of its respective target for the period; non-oil tax collections reached ₦17.30 trillion, achieving 128 per cent of target and making up the bulk of the total figure.

Key highlights in non-oil segments included non-import VAT reaching 137 per cent of its target and import VAT hitting 131 per cent.

Dr. Adedeji emphasised that the FIRS is advancing a “tripod” tax policy focusing on fairness, base-broadening and alignment with Nigeria’s long-term economic objectives, while also pursuing digitalisation of tax processes, internal restructuring, and staff capability development.

Looking ahead, the FIRS indicated that from January 1 2026 it will transition to the Nigeria Revenue Service (NRS), broadening its mandate to include non-tax revenue collections from the Nigeria Upstream Petroleum Regulatory Commission (NUPRC).

Other significant initiatives under way include the full rollout of the National Single Window trade platform, the launch of an e-invoicing system, and a taxpayer access USSD service (829#) aimed at simplifying compliance and improving service delivery.

Implications for Business & Economy:

These strong results reflect an expanding tax base and increasingly effective compliance mechanisms. They send positive signals to investors regarding Nigeria’s revenue mobilisation capacity and fiscal framework.

For businesses, the emphasis on digital tax tools and simplified processes suggests greater transparency, but also underscores the need for tax-compliance readiness in a progressively digitised environment.

[Source: ThisDayLive]

Mr. Wale Edun, the minister of Finance and Coordinating Minister of the Economy, said the transformative initiative will boost Nigeria’s trade and economic growth.

According to him the Single Window project aims to streamline trade processes, reduce bottlenecks, and increase transparency, positioning Nigeria for  economic growth.

A statement issued by Mohammed Manga, the director, Information and Public Relations,  Ministry of Finance,  quoted Edun as underscoring the transformative potential of the NSW in enhancing Nigeria’s trade facilitation and driving economic growth.

The initiative, Edun informed, is a key pillar in the federal government’s strategy to improve trade and customs processes, reduce bottlenecks, and increase transparency within the nation’s trade environment.

To ensure the effective implementation and financial management of the project, Edun explained that the Federal Inland Revenue Service (FIRS), led by its Executive Chairman, Dr. Zacch Adedeji, and the Nigerian Sovereign Investment Authority (NSIA) have been designated as the project’s implementing agencies.

The project secretariat, he added, will be housed within the FIRS, providing a central hub for coordination and oversight.

“Other key stakeholders from various government agencies, including the Nigerian Ports Authority (NPA), the Nigerian Customs Service (NCS), the Nigerian Civil Aviation Authority (NCAA), and the National Agency for Food and Drug Administration and Control (NAFDAC), are actively participating in the workshop.

“Their collaboration is crucial to ensuring the successful implementation of the NSW, which is a critical component of President Bola Ahmed Tinubu’s broader economic reforms.

“The three-day workshop will conclude today (Thursday) with a detailed action plan, outlining the next steps for the project and the timelines for its full implementation.

“With the launch of the National Single Window, Nigeria is poised to witness a significant leap in trade facilitation and economic growth.

“The collaboration among key stakeholders and the designation of implementing agencies underscore the federal government’s commitment to this critical component of President Tinubu’s economic reforms.

“As the project moves forward, Nigeria can expect improved trade processes, increased transparency, and a more business-friendly environment, paving the way for a brighter economic future for betterment of the economy,” the statement concluded.