Category: Business

NEPZA urges FG to grant 10 year Tax relief for Special Economic Zone Investors

Lukman Laleye Babalola

The Nigeria Export Processing Zones Authority (NEPZA) has called on the Federal Government to grant a 10-year exemption from newly introduced tax laws for all operators within the nation’s Special Economic Zones (SEZs). The Authority said the measure has become necessary in view of mounting concerns among local and international investors, warning that uncertainty around tax obligations could undermine efforts to attract Foreign Direct Investment (FDI) into the zones. Managing Director of NEPZA, Dr. Olufemi Ogunyemi, made the appeal during a virtual stakeholder dialogue hosted by the Federal Ministry of…

CAC, SCUML deepen collaboration to strengthen fight against money laundering, Terrorism financing

Lukman Laleye Babalola

The Corporate Affairs Commission (CAC) and the Special Control Unit Against Money Laundering (SCUML) have renewed their partnership to curb money laundering and terrorism financing in Nigeria.   Registrar-General/CEO of the CAC, Hussaini Ishaq Magaji, gave the assurance on Monday when he received the Director of SCUML, Harry Erin, during a courtesy visit to the Commission’s headquarters in Abuja. Both agencies held extensive discussions on the impact of their long-standing cooperation and explored additional avenues to reinforce the partnership in line with national and international anti–money laundering standards.   Magaji…

Tinubu declares C-PACT Summit open, says Africa must dismantle inefficient borders to unlock prosperity

Lukman Laleye Babalola

President Bola Ahmed Tinubu has urged African nations to break down inefficient borders, modernise their Customs systems and commit to a unified trade framework capable of transforming the continent’s economic fortunes. The President made the call on Monday at the opening of the maiden Customs Partnership for African Cooperation in Trade (C-PACT) Summit at the Presidential Villa, Abuja. Represented by Vice President Kashim Shettima, President Tinubu said Africa can only achieve meaningful prosperity by replacing fragmented markets with cohesive, technology-driven trade systems backed by political will and institutional reforms. He…

Ogbomoso Investment Roadshow rescheduled to March 10, 2026, set to spotlight Africa’s industrial future

Lukman Laleye Babalola

The organisers of the Ogbomoso Investment Roadshow have announced a new date for the highly anticipated Abuja edition, now scheduled to hold on March 10, 2026. In a statement issued by the Convener, Mr. Benjamin Onigbinde, Chief Executive Officer of Sigvent Industrial Cluster Limited, the event previously slated for an earlier date will now take place at the Trade and Convention Centre of the Abuja Chamber of Commerce and Industry.   The Roadshow, themed “Kick-Starting Large-Scale Investment in Industrial Clusters Development for Prosperity and Trade Growth in Africa,” will bring…

Nigeria leads push for stronger Intra-African Trade as Customs CGC Adeniyi briefs State House Press ahead of maiden C-PACT Conference

Lukman Laleye Babalola

The Comptroller-General of Customs, Bashir Adewale Adeniyi, has reaffirmed Nigeria’s commitment to driving deeper continental trade integration as the country host the maiden Customs Partnership for African Cooperation in Trade (C-PACT) Conference from 17–19 November 2025 in Abuja. Addressing State House correspondents under the “Meet the Press” platform on Friday, 14 November 2025, the Customs Chief said President Bola Ahmed Tinubu’s recent approval of an extension of his mandate came with clear performance benchmarks focused on trade facilitation, port decongestion and the modernisation of Nigeria’s cross-border processes.   Adeniyi noted…

Apapa Customs unveils electronic cargo tracking system to curb smuggling, enhance trade efficiency

Lukman Laleye Babalola

The Apapa Area Command of the Nigeria Customs Service (NCS) has launched the Electronic Cargo Tracking System (ECTS), a landmark digital innovation designed to strengthen national security, enhance revenue collection, and facilitate efficient trade across Nigeria’s seaports.   The pilot phase of the initiative was successfully carried out on November 5, 2025, using a container bound for the Kano/Jigawa Area Command. This marks the first real-time deployment of the ECTS for cargo monitoring in Nigeria.   Speaking at the launch held at the Apapa Port, the Customs Area Controller, Comptroller…

CG Adeniyi strengthens Nigeria Customs–AfCFTA partnership, secures endorsement for C-PACT Initiative

Lukman Laleye Babalola

The Comptroller-General of Customs, Bashir Adewale Adeniyi, has reaffirmed the Nigeria Customs Service’s (NCS) commitment to deepening collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat to promote efficient trade integration, improve data accuracy, and dismantle barriers hindering intra-African trade. Adeniyi made the remarks on Monday, November 3, 2025, during a courtesy visit to the AfCFTA Secretariat in Accra, Ghana, where he met with senior officials to strengthen strategic cooperation ahead of the forthcoming Customs Partnership for African Cooperation in Trade (C-PACT) conference scheduled for November 17–19, 2025, in…

Apapa Customs sets all-time record, generates ₦304bn in October …. Comptroller Oshoba hails Officers, Stakeholders

Lukman Laleye Babalola

The Apapa Command of the Nigeria Customs Service (NCS) has shattered its previous revenue record by collecting ₦304 billion in October 2025 the highest monthly revenue ever generated by any customs command in the history of the Service. Confirming the record performance in a statement on Monday, the Command’s Public Relations Officer, Superintendent of Customs JT Ayagbalo, said the October 2025 figure surpassed the ₦264 billion recorded in the same month last year, bringing the command’s total collection for the first ten months of 2025 to ₦2.4 trillion (₦2,402,141,493,747.06). With…

Customs, Netherlands deepen ties on Trade efficiency, Border management

Lukman Laleye Babalola

In a major diplomatic stride, the Nigeria Customs Service (NCS) and the Netherlands Customs Administration have deepened bilateral cooperation on trade facilitation, compliance management, and border efficiency. The development followed a two-day working visit by the Comptroller-General of Customs CGC Adewale Adeniyi, and his delegation to the Netherlands between October 29 and 31, 2025. The visit featured a series of technical engagements, institutional briefings, and strategic meetings with Dutch authorities and Customs experts. At the Dutch Customs Headquarters in Rotterdam, the delegation was received by senior officials and briefed by…

Oduwole endorses Sigvent Industrial Cluster, says project will unlock Ogbomoso’s economic potential

Lukman Laleye Babalola

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has endorsed the Sigvent Industrial Cluster Limited as a transformative project capable of unlocking the vast economic potential of Ogbomosoland, while driving industrialisation, innovation, job creation, and enterprise development. Dr. Oduwole made the remarks at the Ogbomoso Economic Summit and Exhibition held in Ogbomoso, Oyo State, where she commended the promoters of the Sigvent Industrial Cluster for their vision and commitment to inclusive economic growth. According to the Minister, the initiative aligned with the Federal Government’s industrialisation strategy, which prioritized…