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NEPZA: Free trade zones generated N11.1bn in three years -- NOT N11.1trn

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The Nigeria Export Processing Zones Authority (NEPZA) says the country’s free trade zones generated N11.1 billion between 2020 and 2023.

The Nigeria Export Processing Zones Authority says the country’s free trade zones generated N11.1 billion between 2020 and 2023.

According to the managing director, the sum of N377.33 million was generated in 2020, while N3.11 billion accrued to the federation account in 2021 from the scheme.Ogunyemi said the total remittances from the scheme in 2022 stood at N3.44 billion, while N4.17 billion was generated in 2023. Ogunyemi said in 2023, the Nigeria Customs Service collected N59.38 billion, the Immigration Services raked in N828.7 million, and the Nigerian Ports Authority garnered N8.738 billion from the free trade zones.

 

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