Low Taxes and Incentives

The location of the Economic City within an area with Free Zone Status designation in Nigeria offers the following incentives.

  • Complete holiday from all federal, state and local government taxes, rates, and levies.
  • Duty free importation of capital goods, machinery/components, spare parts, raw materials and consumable items in the zones.
  • 100% foreign ownership of investments.
  • 100% repatriation of capital, profits and dividends.
  • Waiver of all imports and export licenses.
  • Waiver on all expatriate quotas for companies operating in the zones.
  • 100% capital allowance in any year of assessment.
  • Export into the Nigerian customs territory up to 100% of product produced, assembled or packaged within the Zones;
  • Tax exemption on proceeds re-invested
  • Tax exemption on gain arising from take-overs, absorption or merger
  • Double taxation relief
  • Tax exemptions on interest on bonds and short-term securities, and proceeds of the disposal of Government and corporate securities