Business Headline News Nigeria

NEPZA sets to open free trade zones space for operators

The Managing director of NEPZA, Prof. Adesoji Adesugba and the Executive Chairman of FIRS,  Mr Mohammed Nami

The Nigeria Export Processing Zones Authority NEPZA says policy development to drive digital technology is ongoing

This is to open up the Free Trade Zones space for operators of the important multi-trillion-dollar block-chain technology businesses.

The Managing director of NEPZA, Prof. Adesoji Adesugba, NEPZA made this known during a courtesy visit to the Executive Chairman of the Federal Revenue Inland Services FIRS, Mr       Mohammed Nami in Abuja.

Professor Adesugba, said that NEPZA aimed at opening the country’s free trade zones’ corridor for genuine global competitiveness.

According to him, the African Continental Free Trade Zones Area (AfCFTA) has given leverage to all countries in the continent to diversify their business catchments.

The NEPZA chief executive also said that the decision to fully promote the block chain technology hinged on its fast rate of revenue turnovers and the unlimited job space the technology had for the teeming youth.

He explained that the country’s tax net would be exponentially enlarged if the investment came alive, on his part, the FIRS boss explained that the stage was set to enter into an MoU with NEPZA, adding that such agreement would certainly obliterate all pending negative notions between the two important agencies of government.

Reporting by Victoria Chimezie, editing by Daniel Adejo.