NIGERIA EXPORT PROCESSING ZONES AUTHORITY (NEPZA)
AT THE
UK - NIGERIA TRADE AND INVESTMENT FORUM
LONDON, UK
17TH APRIL, 2018
INVESTMENT OPPORTUNITIES IN THE
NIGERIA FREE ZONES/SPECIAL ECONOMIC ZONES
INTRODUCTION
Lagos Free Trade Zone, Lagos
FREE ZONES
► Free Zones are geographicallocations within a country deemedto be outside the Customs Territorywithin which national regulationsrelated to production, trade andother activities may not beapplicable or partially applicable.
► Referred to in different countries asSpecial Economic Zone, ForeignTrade Zone, Enterprise Zone,Industrial Development Zone and so on.
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... INTRODUCTION
Tinapa Free Zone & Resort
…FREE ZONES
► There are more than 3,500Free Zones in operation inmore than 120 countries ofthe world
► Accounting for an estimated$200 billion in annual exportsand employing more than 40million workers.
► With its unique peculiarities,Nigeria is a unique investmenthaven for enterprises lookingat maximizing their investment.
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BACKGROUND
MANDATE● NEPZA is the government
agency that oversees the affairs of Free Zones/Special Economic Zonesin Nigeria
● Established in 1992;The mandate of NEPZA is toestablish, license, monitorand administer the operations ofFree Zones/Special Economic Zones
● It is also responsible for coordinating and regulating the various public and private sector entities within the Zones.
● Resolution of disputes between operators in the Zones
● Investment Promotion into the Free Zones
NEPZA
REGULATING
ADMINISTERING
LICENSINGMONITORING
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ATTRACTION
• Member of several internationalorganizations and preferentialtrading arrangements such asCommonwealth, ECOWAS, OPEC,AGOA, AU, D-8, WTO, UN, andmore
• Stable macro-economic environment
• Abundant natural resources
• Availability of a vibrant andtrainable work force
Lekki Free Trade Zone, Lagos
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ATTRACTION POINTS FOR NIGERIA
INCENTIVES
INCENTIVES AVAILABLE TO FREE ZONES/SPECIAL ECONOMIC ZONES’ INVESTORS
COMPLETE TAX
HOLIDAY
NIGERIA FREE ZONES
DUTY
FREE
IMPORTS
EXPATRIATE QUOTA WAIVER
100% REPATRIATION
OF CAPITAL
& PROFIT
FOREIGN OWNERSHIP
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In 2001 the Free Zone scheme was modified to expand the scope from export oriented activities to include commerce, logistics, ICT, tourism, real estate, and more.
Since then, the scheme has grown in leaps and bounds from 2 government-owned zones to 37 zones being managed by both the government and the private sector.
OUR STORY
Centenary Economic City, Abuja
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MILESTONES
• Licensed 37 No. of Free Zones/ Special Economic Zones out of which 14 are functional and operational. In addition we have registered over 400 Free Zone Enterprises, of these 114 are foreign direct investments.
• Attracted Foreign Direct Investments with a combined net worth of over US$2OO billion including top players such as G.E Corporation - USA, Samsung -Korea, Kellogg's - USA and others.
Solar Panel Production
GE Plant
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Some of the Enterprises Operating in the Free Zones / Special Economic Zones
...MILESTONES
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...MILESTONES
• Attracted local investments worth N300 billion, including top Nigerian Giant – Dangote Group of Companies; who is currently building one of the largest refinery, petrochemical and fertilizer plants in the world.
Refinery
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...MILESTONES
• First time projects ever witnessed in
Nigeria through the Free Zones:
(i) Egina project (FPSO) worth over $3b
(ii) Agbami project worth $360m(iii) Sub sea equipment (manifolds,
risers, loops, injection flowlines, umblilicals, etc)
• These projects, alongside other engineering activities represented a marked in-country achievements to be completed in Nigeria.
• This is a huge testimony that such deep water projects can be done using local capacity and indigenous fabrication capabilities.
Living quarters for Agbami oil field being fabricated at Snake Island
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Egina Project being fabricated at LADOL
...MILESTONES
Nigeria International Commerce City
● Nigeria InternationalCommerce City, popularly referred to as Eko Atlantic, is a private sector driven free zone.
● The investment is worth US$8 billion, projected to employ over 150, 000 workers.
● It will serve as the financial hub of Nigeria,patterned after the New York and London Financial Centers
Ongoing construction at Nigeria International Commerce City
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INITIATIVES
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● The current administration through targetedinfrastructure interventions upgraded 2 FederalGovernment owned zones (Calabar & Kano), to meet upwith international best practices.
● Additionally, in 2017 the Federal government designated7 greenfield areas as Special Economic Zones:
➢ Lekki Garment and Textile Park, Lagos➢ Special Economic Zone, Ilorin➢ Special Economic Zone, Benin➢ Special Economic Zone, Makurdi➢ Special Economic Zone, Sokoto➢ Special Economic Zone, Bauchi➢ Special Economic Zone, Ebonyi➢ Funtua Cotton Cluster, Katsina➢ Enyimba Economic City, Abia
► You are all invited to take advantage ofthe abundant investment opportunitiesavailable in Nigeria’s Free Zones/SpecialEconomic Zones, either as a developer oras an enterprise.
►We look forward to welcoming you inNigeria for your investment venture.
►My sincere appreciation to the convenersof this investment forum; for theprivilege to interact with you, and also forsharing your valuable time with us!
CONCLUSION
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Thank you for your kind attention…www.nepza.gov.ng
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