The vice president of the Manufacturers Association of Nigeria (MAN), South-West Zone, Dr. Kamoru Yusuf has called for immediate review of the policy
surrounding operations at the free trade zones in Nigeria, which has been subjected to serious abuses with little or no value addition to the economy.
According to him, we wish to appeal to the President, Asiwaju Bola Tinubu through the Minister of Industry, Trade and Investment to institute an inquiry into the operations of the FTZ with a view to auditing the number of companies registered under free trade zone, their business activities/model and their initial claim when registered and compare this with the data with the Nigerian Customs for the value of goods coming into the country through the FTZ which is expected to serve as part of...
He noted that “these goods will be sold in naira and the importers are always wanting to repatriate the money back to their country in dollars and as they have no other source of getting the money, they then resolve to go to the black market since the goods were brought into the country in a dishonest manner.
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