The Managing Director/CEO of Oil and Gas Free Zones Authority (OGFZA), Sen. Tijjani Y. Kaura has disclosed that from 1996 till date, the oil and gas Free Zone attracted $16.6 billion worth of investments.
Speaking at the 30th anniversary of the Free Zones Scheme in Nigeria in Abuja, Send. Laura said over 200,000 jobs were created by the 200 Companies that so far have investments in the zone.
This, the Managing Director said contributed immensely to local content development.
He explained that it has also helped to improve the country’s Gross Domestic Product (GDP).
The OGFZA helmsman noted that in spite of it’s modest achievements, the scheme still lags behind especially in key economic development indices compared to other free zones across the world.
He said one of the expected take-aways from the anniversary is for all stakeholders to deliberate and interact with the aim of evolving a sustainable roadmap that will enhance the development and attractiveness of the scheme in Africa.
He said “We are still open to partnership to develop the enormous potentials in the mid and downstream sectors in line with the Nigeria’s national development plan, with immediate emphasis on the Medium-Term National Development Plan,2021-2025, while providing model development centres for achieving the agenda 2063 of the African Union, in collaboration other international development partners.
“Notwithstanding the enormous challenges, the FZ scheme has recorded significant milestones within the last thirty years.
Also, the Managing Director/ CEO of the Nigeria Export Processing Zones Authority (NEPZA) Prof. Adesoji Adesugba said the objective if adopting the free zone model is to fast track economic growth and industrialization.
“Suffice to therefore, say that the decision of the Nigerian Government to key into this concept has remained legendary as the model has become a key driver of the nation’s economy.
“The presence of key global enterprises in the Zones is a testament to this assertion in speedily contributing to the growth of the Nigerian economy. Notable of these are Dangote Industries Free Zone,The Deep-Sea Port in Lagos; Lekki Free Trade Zone; Eko Atlantic City; OgunGuandong; LADOL amongst others,” he said.
