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Nigeria@62: Oil & Gas Free Zones, an avenue to unlock more economic opportunities in Nigeria – Kaura

The Managing Director and Chief Executive Officer of the Oil and Gas Free Zones Authority, Senator Tijjani Yahaya Kaura in his Goodwill Message to Nigerians on the occasion of the Nation’s 62nd, independence celebration, stated that the Oil and Gas Free Zones in Nigeria, hold enormous potentials to unlock various economic opportunities in Nigeria’s oil and Gas Sector.

Responding to questions from members of the Press over the weekend, in his Kaura Namoda country-home, during the 62nd independence celebration, he emphasized on the enormous opportunities the Oil and Gas Free Zones hold in attracting Foreign Direct Investments (FDI) in Nigeria, which is very key in boosting the Nation’s economy, as well as creating job opportunities that will reduce the number of unemployed youths in the country.

He said;

“Globally, the Free Zone concept is what many countries have used to attract Foreign Direct Investments into their economies, and Nigeria is not left behind. Take the Jebel Ali Free Zone (JAFZA) in Dubai for example;

JAFZA Houses over 8,700 businesses/ companies from various investors across 100 countries, generating about $104.2 billion Dollars annually, which constitute 23.8% of Dubai’s GDP; Created and sustained over 135,000 Jobs, which has Made Dubai a global trade, business and logistics hub, providing access to 3.7billion people globally”

This was the similar vision the Federal Government of Nigeria had, when it set up the Oil and Gas Free Zones Authority (OGFZA). As at today, we are working assiduously to actualize that vision. Already, the authority, over the years have achieved significant steps in actualizing the vision, of which one can now comfortably say that, OGFZA is the premium investment hub for both local and international oil and gas, petrochemical and logistics companies willing to invest in Nigeria. So far, OGFZA has equally contributed immensely to Nigeria’s economic development, and creation of Job opportunities through the various Oil and Gas Free Zones under the authority’s regulation”.

“As Nigeria clocks 62 today, and as we face our current economic challenges, the oil and gas free zones once again remains an avenue through which the Federal government could use in combating these economic challenges via increased foreign direct investments into the zones”.

Meanwhile, i remain committed to catalyzing the oil and gas free zones into an international, smart business community, that offers unprecedented growth opportunities and market access between Nigeria and the rest of the world.

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