ExecuJet base in Lagos granted free trade zone status

Aviation company ExecuJet announced on Monday that its maintenance, repair and overhaul (MRO) facility in Lagos, Nigeria, had been designated a free trade zone (FTZ) by the Nigerian authorities. As a result, parts and services supplied by ExecuJet to its customers in Nigeria’s commercial capital will now be exempt from value added tax (VAT) and customs dues. The company further announced that these savings will be passed on to its customers. This should result in savings of 10% to 15% or even more on supply and MRO costs. “Obtaining the FTZ took approximately two years, during which time the ExecuJet team had to demonstrate how the FTZ would benefit Lagos and Nigeria as a whole,” reported ExecuJet VP Africa Gavin Kiggen. “We’re very proud now to announce the approval of the FTZ in Lagos, and the successful negotiation of zero VAT and zero duties for ExecuJet customers.”