The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) and the Organised Private Sector of Nigeria (OPSN) have submitted a memorandum to the National Assembly opposing the proposed taxation of Free Trade Zones (FTZs).
In the memorandum to the National Assembly, NACCIMA and the OPSN called on the National Assembly to remove sections of the Nigeria Tax Bill 2024 that impose new tax burdens on Free Trade Zones
They argued that the proposed changes in the tax bill, which introduce mandatory minimum tax rates and eliminate tax exemptions previously granted under NEPZA and OGFZA, could lead to capital flight, job losses, and legal disputes that would disrupt economic stability.