Nigeria Gets Tough With Its Economic Zones to Boost Exports
- West African nation weighs revoking some free-zone licenses
- Officials weigh free-zone request to raise equity in Nigeria
Nigeria started the free zones in 1992 to promote exports, attract investment and foster the transfer of technology.
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Nigeria plans to overhaul scores of free customs zones it operates across Africa’s most populous nation to clamp down on misuse.
The zones were set up to boost exports but companies also use them to sell into the domestic market at the expense of local competitors.