Chief Commercial Officer (CCO) of Intels Nigeria Limited, major concessionaire at the zone, Mr. Patrick Bird, has opened up on the volume of investment incentives abound in the Onne Oil & Gas Free Zone.
A statement by Intels issued Monday by the company said this on the sidelines of the ‘Oil And Gas Free Zones Stakeholders Forum’ organised by the Oil and Gas Free Zones Authority (OGFZA).
The stakeholders’ forum was declared open by the Minister of State for Industry, Trade and Investment, Hajia Aisha Abubakar.
According to Bird, the Onne Oil and Gas Free Zone created an environment necessary to support Nigeria’s economic and industrial development.
He recalled that his company, along with government, developed the zone to provide an oil service centre for onshore and offshore operations.
Bird noted further that “It is also providing West Africa and greater sub-Saharan oil and gas industry easy access and duty-free distribution facilities’.
Highlighting some benefits of the Onne Oil and Gas Free Zone, which currently accommodated 170 companies include a 100 per cent repatriation of capital investment.
Others include “Full remittance of profits and dividends, zero Customs tariffs on exports and non-requirement of import or export licenses”.
Bird also said that all goods manufactured in the Free Zone could be sold in the Nigerian market, adding that “The Onne Oil and Gas Free Zone helps Nigeria maximize its natural resources to attract foreign investments and create employment”.
“Enhance the welfare of the people, aid technology transfer and the overall economic development of the country.
He explained that the success of the Onne Oil and Gas Free Zone had led to the creation of similar zones in Warri and Lagos, and commended the Oil and Gas Free Zones Authority (OGFZA) for hosting the stakeholders’ forum to deepen investments in the Free Zone.
The statement also quoted the Managing Director of OGFZA, Mr Umana Umana, as saying the Stakeholders’ Forum provided an opportunity to introduce the agency’s new leadership to stakeholders.
Umana said “Show them the way we intend to work together to recreate the OGFZA and rebuild prosperity for all in successful partnerships between government and private investors in the Free Zones.
“The path of the new OGFZA is well laid out in our road map which we are unveiling today, along with our Marketing Brochure.
“To guide existing and potential investors to the array of incentives available in our Free Zones.
“The road map 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.
In his submission, Umama assured that OGFZA would improve the ease of doing business and overall service delivery to investors in line with global best practices, saying “We will make the Free Zones the first ports of call for investors who are looking for the best opportunities in Africa, to either expand their existing businesses or start new ventures.