The Office of the Tax Ombud and the Oil and Gas Free Zones Authority (OGFZA) have agreed to work together to resolve tax and fee disputes affecting investors, in a move both agencies say will help draw more foreign direct investment into Nigeria’s oil and gas free zones.
The agreement was announced recently when the Tax Ombud/Chief Executive, Dr. John C. Nwabueze, paid a courtesy visit to OGFZA, where he described the planned partnership as key to building a fair, transparent and predictable tax environment for investors in the zones.
“I am very much aware that OGFZA regulates and coordinates activities in the zones, grants permits and licences, administers incentives, and resolves disputes among stakeholders,” Dr. Nwabueze said. “The Office of the Tax Ombud complements these functions by providing an independent channel for reviewing and resolving complaints relating to taxes, levies, regulatory fees, customs duties and excise matters.”
He listed possible areas of cooperation between the two agencies as taxpayer complaint resolution, clarification of tax incentives, review of systemic complaints, and promotion of transparency and accountability.
According to a statement made available by the Chief Press Secretary to the Tax Ombud, Chukwudi Achife, Nwabueze added that such efforts would encourage voluntary tax compliance and help raise Nigeria’s tax-to-GDP ratio, a goal he linked to the Renewed Hope Agenda of President Bola Ahmed Tinubu.
In his response, OGFZA’s Managing Director/Chief Executive Officer, Alhaji Usman Bamanga Jada, said investors in the oil and gas free zones had already benefited from incentives, tax exemptions and customs duty concessions put in place by the Federal Government to attract sustainable FDI, drive private-sector infrastructure development and create jobs.
He said the proposed collaboration with the Tax Ombud’s office came at the right time, noting that it would strengthen investor confidence and support business activity across the special economic zones OGFZA oversees nationwide.
To move the partnership forward, both agencies have named liaison officers to coordinate the relationship and ensure its objectives are met within the shortest possible time.
