Nigeria: How Nigeria Loses Billions At Free Trade Zones – Reps Committee
The House of Representatives Committee on Customs and Excise has revealed that several companies operating in the Free Trade Zones of the country were engaged in sharp practices that lead Nigeria to losing a lot of revenue running to billions of Naira.
This was disclosed by the Chairman of the Committee, Leke Abejide during an oversight visit to the Kano/Jigawa Command of the Nigeria Customs Service.
According to him, companies operating in the free zone are supposed to sell only 25 percent of their products in the local market while exporting 75 percent to generate foreign exchange for the country.
Abejide said by the law establishing the free trade zones, they are supposed to import their raw materials duty free and produce for export, adding that any company selling its products locally will be required to pay duty on the imported raw materials on such manufactured products.
He also disclosed that the House Committee plans to conduct an investigation spanning the last five years with a view to recovering all revenue lost by the government due to such sharp practices.
He also disclosed that the committee plans to introduce an amendment to the pension reform Act to introduce a Pension Fund Administrator for the Customs and other paramilitary agencies as well as ensuring that the Comptroller General is appointed on a four year tenure basis.
In his address the Comptroller of the Kano/Jigawa Command of the NCS, Abubakar Dalhat said the command had generated over N10 billion between January and June 2025 from the Kano free trade zone as against about N1 billion it generated within the same period of 2024.
By Daily Trust.
