Customs in aggressive push to shore up investment in Ogun Guangdong FTZ

As part of its effort to support the federal government’s investment drive, the Ogun State Area Command of Nigeria Customs Service (NCS) has begun aggressive push towards increasing investment portfolio in Ogun Guangdong Free Trade Zone and other industrial estates located in the state.

Consequently, Haruna Mamudu, controller, Ogun State Area Command of the service, has led a high-powered delegation of officers and business experts to China to woo more investors to the free trade zone, saying the move was to improve Nigeria’s gross domestic product and encourage exports to foreign countries.

Speaking in Abeokuta on behalf of controller, Usman Abubakar, public relations officer, disclosed that the command had rolled out incentives to both foreign and local investors who intend to invest in the free trade zone.

He said that investors and entrepreneurs had been advised to locate their factories and businesses in the Ogun Guangdong Free Trade Zone in order to utilise the facilities installed at the free trade zone without fee, adding that utilisation of facilities in the free trade zone and exportation of such products attract no duties, and can only attract excise duty if such goods are meant to be sold locally.

While speaking on the command’s effort to drive more investment to Ogun Guangdong Free Trade Zone and other industrial estates across the state, the controller, who noted that the command generates between N20 million-N40 million on monthly basis, also revealed that four manufacturing companies, including oil palm processing plant, would soon start operations since approval to that effect had been processed at the Customs headquarters in Abuja.

“Even our local manufacturers have been advised to come and utilise the facilities at Ogun Guangdong Free Trade Zone; you have a free land, you don’t pay duties and that helps production. When you produce, you ship it out, except the ones you want to sell in this country. Then, you will bring it to Customs and pay excise duties,” he said.

RAZAQ  AYINLA