Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has announced the federal government's move to overhaul the country's Special Economic Zones (SEZs) to boost exports and fiscal transparency. She disclosed that investments across the scheme have reached over $200 billion in foreign investment and over N900 billion in domestic investment, with over 100,000 direct employment and a total employment impact estimated at over 500,000 when supply chains, logistics networks, and host communities are included. Oduwole spoke at a stakeholders' meeting on SEZs in Abuja, stating that ongoing regulatory reforms are designed to abolish tax arbitrage and tighten rules. The new regulations aim to clarify customs and tax responsibilities amid efforts for greater fiscal accountability.
Related Articles
Don't miss out on breaking stories and in-depth articles.