The Office of the Tax Ombud and the Oil and Gas Free Zones Authority (OGFZA) have agreed to deepen collaboration aimed at strengthening investor confidence and attracting more foreign direct investment (FDI) into Nigeria’s oil and gas free zones.
The proposed partnership will focus on addressing tax, levy, customs duty and regulatory fee-related grievances through effective mediation and dispute-resolution mechanisms.
The resolution was reached in Abuja when the Tax Ombud/Chief Executive, Dr. John C. Nwabueze, paid a courtesy visit to OGFZA.
Dr. Nwabueze described the collaboration as a strategic step towards promoting fair, transparent, predictable and investor-friendly tax administration within Nigeria’s oil and gas free zones, a statement issued by Chukwudi Achife, Chief Press Secretary to the Tax Ombud said.
He noted that while OGFZA regulates activities in the zones, grants permits and licences, administers incentives and facilitates dispute resolution among stakeholders, the Office of the Tax Ombud provides an independent avenue for resolving complaints relating to taxes, levies, regulatory fees, customs duties and excise matters.
According to him, the agencies could collaborate on taxpayer complaint resolution, clarification of tax incentives, review of systemic complaints, and promotion of transparency and accountability.
He said the initiative would encourage voluntary tax compliance and contribute to improving Nigeria’s tax-to-GDP ratio, in line with the Renewed Hope Agenda of President Bola Tinubu.
Responding, the Managing Director/Chief Executive Officer of OGFZA, Alhaji Usman Bamanga Jada, said investors in the country’s oil and gas free zones had benefited from various incentives, tax exemptions and customs duty concessions introduced by the Federal Government to encourage sustainable FDI, infrastructure development and job creation.
Jada described the proposed partnership with the Office of the Tax Ombud as timely, noting that it would help strengthen investor confidence and promote business activities within the special economic zones being championed by OGFZA across the country.
To ensure effective implementation of the partnership, both agencies have appointed liaison officers who will coordinate their activities and facilitate the achievement of the agreed objectives.
