Oil and Gas Free Zones Authority Pledges Continued Support for Business Growth

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The Managing Director/CEO, Oil and Gas Free Zones Authority (OGFZA), Alhaji Bamanga Usman Jada pictured while presenting his welcome remarks during the Opening Ceremony of the Special Economic Zones Annual Meeting 2024 at the Federal Palace Hotel, Lagos.

In a warm welcome to distinguished guests, delegates, stakeholders, and members of the Nigeria Economic Zones Association (NEZA), the 2nd Annual Meeting kicked off with a focus on “Unlocking Opportunities, Harnessing the Power of Nigeria Special Economic Zones Scheme.”

The global significance of the Special Economic Zones (SEZ) Scheme as a vital instrument for facilitating long-term investments and promoting industrialization and job creation was underscored. Despite economic challenges, NEZA members celebrated the remarkable progress made in Nigeria, particularly in the Oil and Gas Free Zones Authority.

The ES/CEO, Nigeria Export Processing Zones Authority (NEPZA) Conferring with the MD/CEO, Oil & Gas Free Zones Authority (OGFZA) during the Special Economic Zones Annual Meeting at the Federal Palace Hotel, Lagos yesterday. PHOTO CREDIT: Harrison Iro

A cross section of participants at the event

Despite challenges, the Oil and Gas Free Zones Authority successfully attracted over $24 billion in investments and oversees more than one hundred efficient licensed companies in the oil and gas free zones under the Authority’s regulation. Acknowledging collaborative efforts, NEZA expressed gratitude to the supervising Ministry, Federal Ministry of Industry, Trade and Investment, Nigeria Customs Service (NCS), FIRS, and all stakeholders.

Special appreciation was extended to Honourable Minister Dr. Doris Anite for her deliberate steps in unlocking economic growth opportunities. The Honourable Minister’s commitment aligns with President Bola Tinubu’s Renewed Hope Agenda, contributing significantly to the government’s aspiration to become a $Trillion economy.

Commendations were also extended to Dr. Olufemi Ogunyemi, MD/CEO of NEPZA, Chief Nabil M. Salah (Chairman of NEZA), Mr. I.O Elegbede (Executive Secretary NEZA), and key stakeholders such as Nigeria Customs, Nigeria Immigration Services, FIRS, NPA, and Host Communities. The collaborative efforts were praised for ensuring the sustenance and growth of Special Economic Zones in Nigeria.

The Nigeria Economic Zones Association was applauded for organizing an excellent Annual Meeting, with special recognition given to reliable and trustworthy investors for sponsoring and making the event possible. The meeting served as a platform for Free Zones operators and licensees to engage in networking and inclusive deliberations with regulatory and government agencies on critical issues affecting daily operations.

The Managing Director/CEO of Oil and Gas Free Zones Authority assured continued support for the ease of doing business, reinforcing the Authority’s commitment to encouraging, enhancing, and supporting the business environment. The Annual Meeting aims to produce innovative solutions to challenges, ensuring the realization of the lofty objectives set by the Federal Government in establishing the Special Economic Zones Scheme. The conclusion expressed gratitude to all participants and wished them a successful deliberation.

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