Nigeria: OGFZA to open more free zones to boost economy

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WorldStage Newsonline– Oil and Gas Free Zones Authority(OGFZA), has announced plans to create more oil and gas free zones in the country to boost the nation’s economy and generate employment as well as revenue.

This is contained in a statement issued by Mr Golda Ukomadu, Assistant General Manager, Corporate Communications, OGFZA.

Ukomadu said the new Managing Director, OGFZA, Sen. Tijani Kaura, spoke during his week-long working visit to oil and gas free zones in Rivers and Akwa Ibom.

Kaura tasked staff of OGFA on the need to be tactical in pursuing its set objectives,saying the goal of the authority was to attract more foreign investments into the country.

He assured that Liberty and Brass Oil and Gas Free Zones (LOGFZA) would take off soon with conducive environment and global best practices that would enhance ease of doing business for operators in the free zone.

According to him, the multiple gas downstream projects in LOGFZA will generate employment for Nigerians, as well as attract Foreign Direct Investments (FDI) into the country.

Kaura commended LOGFZA and the management of free zone enterprises for the level of preliminary work done on construction of access roads into the zone, as well as the jetty and navigation channel to the sea.

The Liberty Oil and Gas Free Zone, which was established by a Presidential Declaration in 2020, would position the country as the destination for future downstream investments in the oil and gas industry.

The Liberty Oil and Gas Free Zone, which cuts across six local council areas in Akwa Ibom, is also the largest in West Africa with a landmass measuring 50,215 hectares. LOGFZ has been granted licenses of free zone enterprises for gas downstream projects like LPG, LNG, Fertiliser, Ports and Jetties.

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