They described the federal government’s decision to review the performance of existing FTZs as a welcome development that will expose the illegalities being perpetrated by some of the zone managers, who shortchange the federal government.They expressed optimism that the outcome of the review will help the federal government to cancel the licenses of unserious FTZ managers and issue new licenses to genuine local and foreign investors.
Some of the stakeholders alleged that some FTZ managers merely secured large expanse of government’s land/swamp as FTZ and allowed the land to fallow without attracting investors. According to him, “Many of these zones have been mere tax avoidance schemes and have resulted in huge revenue losses to the federal government. So while a review of existing zones is welcomed the review exercise needs to be thorough.
On his part, President of National Council of Managing Director of Liscenced Customs Agents, Mr. Lucky Amiwero said the FTZs were created to generate employment but has failed Also speaking a member of the Nigerian Port Consultative Council who do not want his name in print called on the federal government to scrap existing FTZs and come up with new policies that will ensure that the federal government is not shortchanged by the future FTZ managers.
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Source: THISDAY LIVE - 🏆 14. / 51 Read more »