NIGERIA EXPORT PROCESSING ZONES AUTHORITY - NEPZA Review

About NIGERIA EXPORT PROCESSING ZONES AUTHORITY - NEPZA

Nigeria Export Processing Zones Authority (NEPZA) is a government agency that was established to promote and facilitate export-oriented manufacturing and other commercial activities in Nigeria. NEPZA is responsible for the establishment, licensing, regulation, and operation of highly efficient Free Zones in Nigeria. These Free Zones are designed to provide a highly competitive incentive scheme, excellent support facilities, and services for the purpose of creating an enabling environment for export manufacturing and other commercial activities.

NEPZA's mission is to create an enabling environment that attracts foreign direct investment into Nigeria by providing world-class infrastructure, incentives, and support services to investors. The agency aims to promote economic growth through the development of export-oriented industries that will generate employment opportunities for Nigerians while also contributing significantly to the country's GDP.

One of NEPZA's core objectives is to attract foreign investors into Nigeria by providing them with a conducive business environment. The agency achieves this by offering various incentives such as tax holidays, duty-free imports on raw materials and machinery used in production within the Free Zone areas. This has made it easier for investors who want to set up businesses in Nigeria as they can take advantage of these incentives which help reduce their operating costs.

NEPZA has been successful in attracting several multinational companies into its Free Zones across different sectors such as agriculture, manufacturing, logistics & transportation among others. Some notable companies include Procter & Gamble (P&G), Unilever Plc., Nestle Foods Plc., Dangote Group among others.

The benefits of investing in NEPZA's Free Zones are numerous; some include access to world-class infrastructure such as roads networks within the zones which makes it easy for goods produced within these zones to be transported easily across different parts of Nigeria or exported outside the country without any hassle or delay.

Another benefit is access to reliable power supply which ensures uninterrupted production processes thereby reducing downtime costs associated with power outages experienced outside these zones. Investors also have access to skilled labor force at affordable rates due mainly because most people living around these zones are usually trained on how best they can work with machines used within these zones thereby making them more productive than those who have not had any training before working there.

In conclusion, NEPZA has played a significant role in promoting economic growth through its efforts towards attracting foreign direct investment into Nigeria by creating an enabling environment that provides world-class infrastructure facilities coupled with various incentives aimed at reducing operating costs incurred by investors while setting up businesses within its free zone areas."