…as FG sets aside N54.1bn for 6 SEZs
Federal Government said on Thursday that the Oil and Gas Free Zones (OGFZs) had created 200,000 direct and indirect jobs for Nigerians, in addition to attracting over $20 billion in investments to the country.
To this end, the minister of industry, trade and investments, Okechukwu Enelamah, has pledged the Federal Government’s continued support to the Oil and Gas Free Zones Authority (OGFZA) and investors in the OGFZs, due to their contributions to national development.
Enelamah spoke at a stakeholders’ forum and the unveiling of the Roadmap of the Oil and Gas Free Zone Authority organized by OGFZA in Onne, Rivers State, adding that government had set aside the N51.4 billion for the establishment of six special economic zones.
The minister explained that the step was taken as a result of the recognition of free zones as veritable engines of growth for the economy.
“In order to underscore the critical role of the Free Zones as drivers of economic growth, the Federal Government in the 2017 budget estimates, made a strong policy statement in support of the concept of the Free Zones by setting aside a special provision of N51.4 billion for the establishment of six Special Economic Zones (SEZs) in the country, having recognised Free Zones as veritable engines of growth for the economy,” Enelamah said.
He said: “For this reason, the Federal Government will continue to support OGFZA and investors in the Oil and Gas Free Zones because of their important contributions to national economic development.”
He informed that over the years, the Oil and Gas Free Zones have attracted more than $20 billion in investments and created about 200,000 direct and indirect jobs; adding that the OGFZs have also facilitated the transfer of skills and technology in the oil and gas sector to Nigerians.
The minister, who was represented at the stakeholders’ forum by the minister of state, industry, trade and investment, Aisha Abubakar, described the forum as significant to the ministry and the current administration.
Enelamah commended the leadership of OGZFA for working out a detailed roadmap and an information-rich marketing brochure; adding that the agency would strengthen investors’ confidence and give impetus to businesses.
“The Roadmap we are unveiling today is a critical work tool for OGFZA. It will help to measure economic and social progress in the Oil and Gas Free Zones. The steps outlined by OGFZA to enhance service delivery, improve on the ease of doing business and automate its operations will help in creating the enabling environment to create and sustain investments,” the minister stated.
In welcome address, Umana Okon Umana, managing director/CEO, OGFZA, explained that the forum would show the way in which the Authority and stakeholders intend to work together, assuring federal agencies operating within various OGFZA’s preparedness to embrace constructive dialogue and partnership that would deliver a win-win collaboration.
“The path of the new OGFZA is well laid out in our roadmap, which we are unveiling today, along with our marketing brochure to guide existing and potential investors to the array of incentives available in the Free Zones. The Roadmap is a product of our vision to be the premier investment promotion agency of government by facilitating the establishment of businesses in the Oil and Gas Free Zones with the creation of an enabling environment for investment,” Umana said.
He however, added that the roadmap would usher in a new era for the Oil and Gas Free Zones and improve the ease of doing business.
