{"id":61782,"date":"2025-02-25T03:43:57","date_gmt":"2025-02-25T03:43:57","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=61782"},"modified":"2025-02-25T03:43:57","modified_gmt":"2025-02-25T03:43:57","slug":"nigerias-free-trade-zones-attract-30bn-boost-revenue-minister","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/02\/25\/nigerias-free-trade-zones-attract-30bn-boost-revenue-minister\/","title":{"rendered":"Nigeria\u2019s Free Trade Zones Attract $30bn, Boost Revenue \u2014Minister"},"content":{"rendered":"<p><strong>By Ade Iyamoye\u00a0<\/strong><\/p>\n<p>Nigeria\u2019s Free Trade Zones (FTZs) have pulled in over $30 billion in investments and contributed N650 billion in revenue, according to Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment.<\/p>\n<p>Despite these impressive gains, she noted the zones are yet to reach their full potential.<\/p>\n<p>Speaking at the third Special Economic Zones (SEZ) Annual Meeting in Lagos, Oduwole highlighted Nigeria\u2019s position alongside Morocco as one of Africa\u2019s leaders in SEZ development, with over 200 operational zones and 70 new projects in progress.<\/p>\n<p>She emphasized the ministry\u2019s focus on aligning fiscal and trade policies through stronger collaboration with the Federal Inland Revenue Service (FIRS), Central Bank of Nigeria (CBN), and the Nigerian Export Processing Zones Authority (NEPZA) to boost competitiveness.<\/p>\n<p>Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, called for updates to outdated tax laws, including the 1992 Free Zone Law, to reflect today\u2019s economic realities.<\/p>\n<p>Dr. Femi Ogunyemi, Managing Director of NEPZA, reiterated that SEZs remain central to attracting investments, creating jobs, and strengthening Nigeria\u2019s global industrial presence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ade Iyamoye\u00a0 Nigeria\u2019s Free Trade Zones (FTZs) have pulled in over $30 billion in investments and contributed N650 billion in revenue, according to Dr. Jumoke Oduwole, Minister of Industry, Trade, and Investment. Despite these impressive gains, she noted the zones are yet to reach their full potential. Speaking at the third Special Economic Zones [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":61783,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-61782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=61782"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61782\/revisions"}],"predecessor-version":[{"id":61784,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/61782\/revisions\/61784"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/61783"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=61782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=61782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=61782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}