Managing Director of Oil and Gas Free Zones Authority (OGFZA), Umana Okon Umana, has revealed that the Federal Government, through the Nigerian Ports Authority (NPA) has raked in well over $2bn, about N611 billion as revenue from the operation of the Onne Oil and Gas Free Zone in six years.
Making the insight at the first session of the Nigeria Business Roundtable held in Lagos weekend, Umana recalled that the Onne Oil and Gas Free Zone was developed by INTELS Nigeria Limited to attract Foreign Direct Investment, create employment as well as enhance Nigeria’s technological and industrial advancement.
Currently, the zone hosts the operation of more than 170 companies, and has been seen as one of the fastest growing in the world.
According to Umana, one of the keys to attaining greater productivity and growth in the Nigerian economy is making use of the potentials of a free trade zone which offers an increase in investment, job creation and exports.
Other incentives coming with doing business at Onne include streamlined regulations, reduced tax obligations and state-of-the-art infrastructure.
He added that the federal government is currently working on introducing further reforms into the operation of free trade zones in the country, culminating in the reduction of license renewal duration from 14 days to 48 hours for investors that meet all requirements in line with the ease of doing business policy.
He said “Statistics show that there are 3 million companies arising from over 5,000 free trade zones around the world which accounts for over 45 million jobs, all showing efficacy of having an effective free trade zone in a global perspective. FTZ in developing countries can drive growth in different sectors not only in oil and gas, attract increased foreign investment inflow, create employment, transfer skills and technology”.
Business Hilights recalls that the OGFZA boss comments had been corroborated by the General Manager, Legal Services of INTELS Nigeria Limited, Amaopusenibo (Barrister) Mike Epelle, who spoke recently at the Rivers Golden Jubilee Award in Port Harcourt, Rivers State, saying “INTELS remains fully committed to maximizing the use of Nigerian human resources, materials, equipment and services in its operations without compromising the company’s values, quality, health, safety and environmental standards”.
“INTELS has been a trusted partner to major Oil and Gas producing companies in Nigeria and a monumental logistic partner to the Nigerian Ports Authority (NPA) in the development of ports infrastructure and service in Nigeria.
“In over 30 years, we have added substantial value to the Nigerian Oil and Gas service industry and the operators have found our services strategic to their operations.
“In the maritime sector, INTELS’ operation as a port infrastructure developer and maritime service provider reinvigorated and brought the needed momentum and life to Nigerian ports and the maritime industry with improved capacity to serve the nation.
“These efforts by INTELS have in turn boosted earnings and contributions by these sectors to the Nigerian economy while generating the much-needed employment for Nigerians.
“To achieve our vision of providing an integrated, efficient, reliable and cost effective logistics solution to the Oil and Gas industry in Nigeria, we introduced an innovative “one-stop-shop oil service centre concept” designed to meet the growing specialized needs of oil producing companies in one location to provide an integrated, efficient, reliable and cost effective logistics solution to operators in the oil and gas industry in Nigeria”, Epelle averred.
