Business
‘Free Trade Zones, Catalyst For Economic Growth’
A senior manager at the Oil and Gas Free Zone Authority, Mr Adamou Kontagora, has described free trade zones as catalyst for economic growth and job creation.
Kontagora made this known at the 3-day 5th Nigeria International Maritime Ports and Terminals and Expo in Abuja.
According to him, the free zone has attracted 150 companies with investment portfolio of more than five billion dollars.
He said that the investment inflow to the zone represented about 60 per cent of total investment in the country in the last nine years.
Kontagora observed that the investment had created about 30,000 direct or indirect jobs.
“The Oil and Gas Free Zone at Onne attracted all the major oil companies in the area and are now using free zone as a hub for their activities.
“The Financial Times of London on Foreign Direct Investment regards the Oil and Gas Free Zone as the most successful in Africa.’’
He stressed that “investor’s confidence is paramount in the attraction of foreign direct investment,’’ adding that consistency in policy is also very important.
He also said that a strong legal frame work was a prerequisite for consistency in policy and that the role of legislation could not be over emphasised.
Kontagora called for a clear government intention to ensure maximisation of the potential in the sector.
He gave the assurance that the zone would contribute immensely to the realisation of the Transformation Agenda of President Goodluck Jonathan.
The expo ended last to end on Wednesday.
Business
FEC Approves New National Immigrants Policy
Business
Ogoni Oil Resumption: Group Demands Transparency, Full Jobs Disclosure, Contracts
Business
Foundation Unveils New Digital Medical Facilities
-
News4 days agoTinubu Appoints Enitan As New Head Of Federal Civil Service
-
Rivers4 days ago
Philanthropist Cautions Youths Against Ignoble Acts Donates Building To Musician
-
Business4 days agoFAAN Sack Contract Company Over Illegal Parking Fees
-
Sports4 days ago
Arsenal Want Osimhen To Take Pay Cut
-
Sports4 days ago
Nnadozie, Osimhen Lead Highest-Rated Nigerian Players
-
Politics4 days ago
Yari Emerges DG As Tinubu Unveils 2027 Presidential Campaign Council
-
Rivers4 days agoRivers SSP ’ll Enhance Equitable Access To HIV Services – RIVSACA Boss ….As Govt Urges Tireless Commitment
-
Education4 days ago
Rivers Wins 2026 Presidential Inter-School Debate: Govt Pledges To Institutionalise Competition
