Wednesday, 4 January 2017

Umana Okon Umana meets Gov. Udom Emmanuel for Oil and Gas Free Zone


A presentation by the Managing Director/Chief Executive Officer of Oil and Gas Free Zones Authority, Mr Umana Okon Umana, during a meeting with the governor of Akwa Ibom State, his Excellency, Udom Emmanuel on the establishment of oil and gas free zones in the state

Your Excellency, I would like to start by wishing you a very happy and successful new year 2017.
And on behalf of the Management and Staff of the Oil and Gas Free Zones Authority, I want to convey our heart-felt condolences to you and the people of Akwa Ibom State on the tragic incident of the collapse of the Reigner’s Church building in Uyo late last year, leading to the loss of so many lives and injuries to many people. I was deeply saddened by the incident and pray the good Lord to comfort you and all the families who were affected by the tragedy.
As I had intimated you during my initial contact for this meeting, the purpose of our being here this afternoon is to discuss the establishment of Oil and Gas Free Zones in Akwa Ibom State.
Before I go further, let me give some background on oil and gas free zones in Nigeria. Oil and Gas Free Zones all over the world are established to attract investments, create jobs and fast-track economic development. The first oil and gas export free zone to be established in the country was the Onne Oil and Gas Free Zone in Rivers State. Subsequently other oil and gas free zones were established in Warri and Lagos as public-private partnerships between the Federal Government of Nigeria and private sector operators.
Thus, the history of the free zones is a record of collaboration between the Federal Government (FG) and other investors such as states and private sector operators in the development of the logistic support base for the Oil and Gas Industry.
BENEFITS
The oil and gas free zones have helped to deepen the economy of Nigeria. They have placed Nigeria on the map as a leading player in the oil and gas economy of Sub-Saharan Africa.
As at 2015 investment inflow into the Free Zones represented about 65.5% of total investment into Nigeria within the last 10 years. The Financial Times of London magazine on FDI regards Nigeria’s Oil and Gas Free Zone at Onne as the most successful in Africa.
OGFZs have attracted all major oil companies which are now using the Free Zones as a hub for their business transactions covering the entire Gulf of Guinea up to Angola and South Africa.
OIL AND GAS FREE ZONES IN AKWA IBOM.
In light of the obvious economic benefits of the free zones concept, we have decided to invite the Akwa Ibom State government to work with the OGFZA to establish oil and gas free zones in Akwa Ibom State. the locations under consideration are IBAKA, IBENO AND IKOT ABASI. These three areas are strategic locations in the state for oil and gas free zones.
This meeting, Your Excellency, is therefore a continuation of the discussion between the Authority and the State for the establishment of the target free zones.
In the last meeting on 5 May 2014, it was agreed that OGFZA:
Would use its expertise to establish a competitive Oil and Gas Free Zone with best global practices
Obtain all necessary permit, licences, consents and approvals for the establishment of the free Zone
Attract potential investors to the Free Zone
Regulate, license investors and manage the Free Zone
Advise and facilitate compliance with all necessary requirements for the establishment of the Free Zones.
And that AKSG would:
* Provide land for the project
* Keep the project site free from all liens, encumbrances and adverse possession
* Provide offsite infrastructure such as roads, electricity, gas pipeline, telecommunication, crude feedstock, etc.
* Make financial and other contributions for the successful execution of the project.
This meeting is a step to give effect to these commitments on the part of both parties to the project.
Thank you for your kind attention.

MR. Umana Okon Umana
MD/CEO

Oil & Gas Free Zones Authority - OGFZA

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