Tax Ombud and OGFZA Partner to Boost FDI in Nigeria

The Office of the Tax Ombud and the Oil and Gas Free Zones Authority (OGFZA) have agreed to collaborate to boost Nigeria's tax-to-GDP ratio and attract more foreign direct investment (FDI) into the country’s oil and gas free zones. This resolution was announced during a courtesy visit by Dr. John Nwabueze, the Tax Ombud/Chief Executive, to OGFZA.

Dr. Nwabueze described the collaboration as essential for promoting a fair and transparent tax administration. He noted that OGFZA regulates activities in the zones, grants permits, and resolves disputes, while the Tax Ombud provides an independent channel for tax-related complaints.

The collaboration aims to enhance taxpayer complaint resolution, clarify tax incentives, and promote transparency, contributing to increased tax compliance and supporting the Renewed Hope Agenda of President Bola Ahmed Tinubu. Usman Bamanga Jada, Managing Director/CEO of OGFZA, acknowledged that investors benefit from government incentives and that this partnership is timely for building investor confidence and promoting business activities in special economic zones.