The Lead Story
Free-Zone Perks? Not So Free Anymore
Nigeria’s new tax overhaul has Special Economic Zones (SEZs) sweating harder than a Lagos commuter at high noon. The Nigeria Economic Zones Association (NEZA) says fresh provisions in the 2025 Nigeria Tax Act could wipe out the very incentives that lured investors in the first place. “This completely undermines the free-zone scheme,” NEZA warned in a statement carried by The Guardian.
Under Section 57, even companies that export 100 percent of their output may face corporate tax. NEZA’s Executive Secretary Toyin Elegbede told BusinessAMLive the clause is an “aggressive encroachment” that could make Nigeria “one of the least attractive and competitive” free-zone destinations in Africa.
The association isn’t throwing a tantrum without receipts. Free-zone operators already pony up about $100,000 per zone in annual licence fees, plus another $100,000 in container examination charges, according to NEZA. The group fears the added tax bite could jeopardise 100,000 jobs and trigger capital flight.
The reaction was swift: investors are asking whether the government can balance its hunt for revenue with keeping industrial enclaves alive. For now, NEZA is urging “constructive dialogue” to keep Nigeria’s free-zone dream from becoming a fiscal nightmare.
Around the Tax World
• Corporate heavyweights open their wallets. Sixteen listed firms, led by MTN and Seplat, paid ₦54.97 billion in education tax and ₦81.33 million to the Police Trust Fund in H1 2025 (Punch).
• Non-oil revenue rockets. Government coffers swelled to ₦20.59 trillion from January,August, a 40.5 % leap that the Presidency credits to tech-driven compliance reforms (BusinessDay).
• Bolt hits the brakes on VAT ruling. The ride-hailing giant is appealing a Federal High Court decision that cemented its role as an FIRS VAT collection agent (Punch).
• FIRS goes global. Chairman Zacch Adedeji called for international muscle to curb cross-border tax crimes, saying robust enforcement is “critical to collecting big tax revenue” (Newspeakonline).
By the Numbers
Tax Stat of the Day: ₦20.59 trillion , the non-oil revenue Nigeria raked in over eight months, its strongest fiscal run in decades (BusinessDay).
Looking Ahead
Lawmakers are under pressure to tweak Section 57 before investors book one-way tickets out of Nigeria’s free zones. Meanwhile, all eyes turn to the Court of Appeal as Bolt’s VAT showdown could redefine who really collects the tax tab in the gig economy.