NEPZA Reaffirms Commitment to Investor Security at Calabar Free Trade Zone
Calabar Free Trade Zone: NEPZA Moves to Address Security and Tax Concerns
The Nigeria Export Processing Zones Authority (NEPZA) has reaffirmed its commitment to improving security and supporting businesses operating within the Calabar Free Trade Zone (CFTZ), as investors raised concerns over security breaches and the impact of recent tax policy changes. The assurance was given during an interactive session involving investors, security agencies and other stakeholders in Calabar.
According to NEPZA Managing Director, Dr Olufemi Ogunyemi, the agency remains focused on creating an enabling environment for businesses while fulfilling its regulatory responsibilities. He stated that the engagement was organised to provide investors with an opportunity to present their concerns directly to NEPZA’s leadership and explore practical solutions to challenges affecting operations within the zone.
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Security Concerns Take Centre Stage
Security emerged as one of the major issues raised by investors operating in the Calabar Free Trade Zone. Stakeholders reported recurring incidents of theft, vandalism and unauthorised access to facilities within the zone, prompting calls for stronger security measures.
Responding to the concerns, Ogunyemi acknowledged the challenges and stressed that security remains a top priority for NEPZA. He disclosed that discussions had already been held with Cross River State Governor Bassey Otu on the need for collaborative efforts to strengthen security around the zone.
The NEPZA boss explained that securing the zone would require coordinated action involving security agencies, host communities, the state government and investors themselves. He added that the agency intends to develop a comprehensive security strategy while addressing infrastructure deficiencies, including damaged perimeter fencing that has contributed to security vulnerabilities.
Investors Raise Tax Reform Concerns
Beyond security issues, investors also expressed concerns over the impact of recent tax reforms on businesses operating within free trade zones. Representatives of some companies argued that policy changes had altered incentives that originally influenced investment decisions and raised questions about the future competitiveness of businesses operating within the zone.
One of the concerns centred on whether investors in NEPZA-regulated zones would receive tax concessions similar to those reportedly available in certain oil and gas free zones. Investors sought clarification on measures being taken to protect existing investments and maintain the attractiveness of the Calabar Free Trade Zone.
Ogunyemi stated that NEPZA had actively engaged policymakers and relevant government institutions during deliberations on the tax legislation. He revealed that the authority had also written to the Nigeria Revenue Service seeking a tax moratorium that would allow investors adequate time to adjust to the new policy environment.
Calabar Free Trade Zone’s Strategic Role
The NEPZA Managing Director described the Calabar Free Trade Zone as one of Nigeria’s most important industrial and investment hubs. He noted that the zone occupies a strategic position within the country’s industrialisation agenda and remains critical to efforts aimed at attracting investment, promoting exports and creating jobs.
Established as one of Nigeria’s flagship free trade zones, the CFTZ has long been viewed as a key platform for manufacturing, trade facilitation and export-oriented industrial development. NEPZA continues to position the zone as a destination for both domestic and foreign investors seeking to leverage incentives available within Nigeria’s free zone framework.
Stakeholders Seek Improved Operating Environment
During the meeting, stakeholders emphasised the need for sustained collaboration between government agencies, investors and security institutions to improve operational efficiency within the zone. Calls were also made for enhanced infrastructure, better security coordination and policy consistency to strengthen investor confidence.
Officials at the Calabar Free Trade Zone disclosed that security agencies had already established a committee involving the police, the Nigeria Security and Civil Defence Corps and other relevant stakeholders to address persistent security concerns and improve surveillance within the area.
Outlook
NEPZA’s engagement with investors comes at a time when Nigeria is seeking to attract more investment into its industrial and export sectors. The authority’s commitment to addressing security concerns and advocating supportive policies reflects broader efforts to improve the competitiveness of free trade zones as engines of economic growth.
As discussions continue around security, taxation and infrastructure, stakeholders will be closely watching the implementation of proposed measures aimed at strengthening the operating environment within the Calabar Free Trade Zone and sustaining investor confidence in one of Nigeria’s oldest free zone projects.
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