Tariff disparity in free trade zone major disincentive to business—Samsung HI
Core investors across the nation’s oil and gas free trade zones have cried out on the growing case of tariff disparity in the economic hubs.
In his argument during a panel session on ‘‘Commercial and Investment Forum on Unlocking Economic Zones, Maritime and Ports as Energy Transition Hubs at the Nigerian International Energy Summit (NIES) in Abuja, the General Manager Business Development/Proposal, Samsung Heavy Industry, Mr. David Inglis, advanced that the tariff disparity in the free trade zone was a major disincentive to business. Besides, he said there are too many government agencies and people lurking around the Ports corridors without defined role of their presence, thus creating major security concern for vessel security.
Continuing, Inglis urged government to ensure that a standard and uniform tariff is created for operators, irrespective of which free trade zones they choose to operate from. He lamented the poor state of electricity across the different trade zones, as such was adding more to the cost of doing business for companies who rely on diesel powered generators for their operations. In this regard, he said Samsung was partnering with Siemens to build power barges to help grow activities around free trade zones.
