• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

NEPZA moves to stop exit of foreign companies

NEPZA

The Matters Press by The Matters Press
June 17, 2024
Reading Time: 2 mins read
0
Transparency group commends NEPZA of its anti-corruption reforms

Nigeria Export Processing Zones Authority (NEPZA) has started intensifying efforts to retain businesses in Nigeria amid foreign exchange constraints and unreliable power supply.

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

The Managing Director of NEPZA, Olufemi Ogunyemi said in Abuja that NEPZA was supporting businesses within its free trade zones and enclaves.

“We are witnessing an unfortunate trend where companies are relocating due to issues like foreign exchange access and power supply.

“To mitigate these challenges, NEPZA is actively involved in providing power generation solutions tailored to the needs of businesses operating within its zones.

“This initiative aims to reduce production costs and incentivise companies to maintain operations in Nigeria. We offer a range of incentives designed to attract and retain foreign direct investment.

“These incentives include customs duty waivers, tax breaks, and deferred payments to the government at the start-up phase of businesses,’’ he said.

According to the managing director, the investors, upon getting the incentives, are also expected to give back to society in the form of a Corporate Social Responsibility (CSR).

“Now, on the flip side, like I said, its a handshake, so we give, and then we take. Therefore, NEPZA requests from these foreign direct investors that they employ Nigerians.

“They train Nigerians on skilled, semi-skilled, even sometimes up to professional level. These are statutory requirements that are part of this handshake.

“And on top of that, there is something people call CSR but I call it Community Social Regeneration. I think that is a more accurate description.

“And it is part of the requirements we have on all these investors,’’ he said.

According to Ogunyemi, the authority operates as a one-stop shop for investors, streamlining interactions with government agencies to enhance the ease of doing business within NEPZA zones.

He said over the years, this directive had not been followed but he would during his tenure ensure its implementation for the interest of the investors and the country at large.

The managing director expressed optimism about Nigeria’s potential to attract and sustain foreign investments in spite of global economic fluctuations.

He also expressed NEPZA’s commitment to leveraging incentives and streamlined processes to foster business retention and economic growth in the country.

Tags: NEPZA
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Reopening of Lagos-Kano Railway Line, Major Rebound for Nigeria’s Economy – TDF

Reopening of Lagos-Kano Railway Line, Major Rebound for Nigeria's Economy - TDF

Group bemoans level of crude oil theft

Settlement of NNPCL, Seplat dispute by Tinubu rewarding - TDF

Recommended Stories

3,000 manufacturers to attend global fair on industrial solution in Lagos

Don seeks reforms to improve manufacturing sector

October 4, 2023
Dangote Fertilizer in gas supply deal

Dangote petrochemical plant to position Nigeria as polypropylene hub

July 25, 2022
Nigeria, WFP worry over food situation

Nigeria tasks countries on measures to improve food production

June 20, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us