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Tax incentives for multinationals not a good policy choice
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The Nigeria Export Processing Zones (NEPZ) were developed to boost exports, attract foreign direct investment, and create jobs in the country. In this model, the government provides generous tax breaks to companies (mostly foreign) to attract foreign direct investment, generate employment, and boost exports. However, research conducted by PSI affiliates in Nigeria, with funding from the Friedrich Ebert Stiftung (FES) Nigeria, shows otherwise. According to the report, governments lose between $50 million and $500 million per year because of tax incentives provided to companies in export processing zones.