Federal Government extends validity of operators’ licences in free trade zones to five years.
Written by News Room on March 11, 2022
The Federal Government has announced a five-year extension for the validity of operators’ licenses in free trade zones across Nigeria.
The Minister of Industry, Trade and Investment, Niyi Adebayo, announced this at a stakeholders’ forum organised by the Nigeria Export Processing Zones Authority (NEPZA) tagged; “Streamlining free zone operations for global competitiveness”.
While explaining that the move was to lessen challenges hindering operators in the zone, the Minister urged the operators to take advantage of the extension, but ensure they file their yearly returns.
According to him, free trade zones play an important role in encouraging industrial activities, increasing the manufacturing sector and growing the economy.
He also said that operators’ performance creates job opportunities and diversifies the economy to generate foreign exchange.