Special Economic Zones in the OIC Region:
Learning from Experience
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Fiscal Incentives for Developers
 100% tax holiday for all Federal, State and Local Government taxes, rates, duties and
levies.
Non Fiscal Incentives
Non-fiscal incentives for investors as per the Nigerian Free Trade Zone policy:
 One stop approval for permits, operating licenses and incorporation paper;
 Permission to sell 100% of manufactured, assembled or imported goods into the
domestic Nigerian market with import duty calculated on the basis of the value of the
raw materials or components used in assembly not on the finished products;
 100% foreign ownership of investments;
 100% repatriation of capital, profits and dividends;
 Waiver of all expatriate quotas, and import and export licenses;
 Prohibition of strikes & lockouts (10 years);
 On-site customs office, immigration and police station; and
 One-stop-shop services through NEPZA.
Non-Fiscal Incentives for Developers
 Provision of offsite infrastructure; and
 Rent free arrangements during construction of premises, after which rent is determined
by the Zone Authority or Management
5.6.4 Organisational and Administrative Profile
The Nigeria Export Processing Zones Authority (NEPZA) is Nigeria's Investment Promotion
Agency for investment into the Free Zone areas in Nigeria. The licensing, monitoring and
regulation of Free Zones Scheme in Nigeria is the responsibility of the Nigeria Export Processing
Zones Authority, as outlined in the Nigeria Export Processing Zones' Authority Act 63, of 1992.
The state governments are also, however, involved in contributing to the development of the
zones. This may be in the form of financial contributions, as well as promotion of the Zone
alongside the Zone Authority or Management to attract and encourage foreign investment.
In the case of the Lekki Free Zone, NEPZA together with the Federal Government of Nigeria has
authorised the Lekki Free Zone Development Company (LFZDC) to be the sole entity to develop,
operate, administer and manage the South/West Quadrant of the Lekki Free Zone project. The
Lagos State government is involved through its ownership of Lekki Worldwide Investments Ltd.
An MOU has been signed between the three parties to facilitate development of the Lekki Free
Zone.