Nigeria: Senate Grants Tax Holiday to Trade Zone

The Senate yesterday passed the new Oil and Gas Export Free Zone Authority law granting tax holiday to operators in Nigeria.

Oil and gas free zone is located at Onne/Ikpokiri in Rivers State. Lawmakers passed a bill which altered the Oil and Gas Export Free Zone Authority Act Cap 05, LFN 2011, together with a clause providing for the appointment of a Board and Chairman and which must reflect federal character as provided in the 1999 Constitution and subject to approval by the senate.

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