FG extends validity of operators’ licences in free trade zones to five years
The Federal Government yesterday, announced a five-year extension for the validity of operators’ licences in free trade zones across the country. The Minister of Industry, Trade and Investment, Niyi Adebayo, explained that the move was to mitigate challenges hindering operators in the zone, noting that the directive is also coming on the heels of the Federal Government’s ease of doing business mandate. Speaking at a stakeholders’ forum organised by the Nigeria Export Processing Zones Authority (NEPZA) tagged “Streamlining free zone operations for global competitiveness,” the Minister urged the operators to take advantage of the extension, but ensure they file their yearly returns. In his words: “With regards to the validity period of licenses, I understand that is one of the major challenges of operators at the free trade zone, I have directed that the validity period of licenses to be for five years, however, returns should be made every year and we want to assure that before the en...
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