A whopping $5.4Billion has been generated into the coffers of the federal government at the Onne Oil & Gas Free Zone located in Rivers state.
The free trade zone is concessioned to Intels Nigeria Limited under the consultancy of DMS Nigeria Limited.
The revenue figures were reeled out last weekend when the minister of trade and investments, Dr Olufemi Aganga visited the free trade zone.
A whopping $5.4Billion has been generated into the coffers of the federal government at the Onne Oil & Gas Free Zone located in Rivers state.
The free trade zone is concessioned to Intels Nigeria Limited under the consultancy of DMS Nigeria Limited.
The revenue figures were reeled out last weekend when the minister of trade and investments, Dr Olufemi Aganga visited the free trade zone.
The minister was told that about $2.3 billion was invested in ports infrastructure, camps and offices at the Onne Oil & Gas hub, strategically located on 16 square kilometers, though still expanding, by the end of 2010, just as an additional $2.5billion is being spent on all ongoing and future planned investments various investors, making a total of $4.8 billion that would have been invested at the zone by the end of 2012 when some of the projects are expected to have been completed.
The Free Zone consultant also said that so far the sum of $5.4 billion had been generated into Government coffers through the Nigerian Ports Authority (NPA) and the Nigeria Customs Service.
Giving an insight into the activities of the zone, the General Manager of DMS Nigeria Limited, who are the technical consultants to the Free Zone Authority Mr. Sunday Wama, scored Intels Nigeria Limited high particularly on employment generation, training, transfer of skills and corporate social responsibility, as the company and other investors have created more than 30,000 direct and indirect job opportunities in the area.
All these achievements, according to Wama, were possible through the adoption of Public-Private Sector-Partnership (PPP) policy of the government.
The minister, in his response, described the, Oil & Gas Free Zone, at Onne Ports as the most successful of all approved free zones in Nigeria by the Federal Government.
He applauded the level of technological transfer, manpower training and backward integration (local content) and job creation at the Freezone adding that it was just a matter of time for Nigeria to realise her dream of industrialization and assured that his ministry will market the free trade zone
The minister gave this verdict at a news conference at Onne ports at the end of his one-day working visit to the Oil & Gas Free Zone Authority (OGFZA), Onne Ports last weekend. During the visit, the minister was taken on a guided tour to some world-class facilities and on-going ports infrastructure developments by one of the ports concessionaires-Intels Nigeria Limited
And apparently impressed, the minister promised the Oil &Gas Free Zone Authority, Onne and the investors saying, “from what I have seen here physically, I will market the free zone with my team in the ministry on their behalf”, but called for industrialisation master plan for the free zone.
“I will like to appreciate Intels for what I have seen and also commend them for their resilience and total commitment to advance the objective of both the concession exercise and the spirit of the free zone as evidenced in the various ongoing projects.”
The minister who was accompanied to Intels Nigeria Limited; the zone’s concessionaire, by the Managing Director of OGFZA –Dr. Noble Abe and a Director at Orlean Invest ; Captain Damir Miskovic, were received at the head office by the General Manager, Mr. Johan Coetzer and other senior management staff.
The minister was also taken on a guided tour by the Commercial Services Manager of Intels, Mr. Akintoye Akinpelu. Among the companies and investors visited in the free zone are : Prodeco, WACN, FMC, WACT, Atlas Cement, pipe stockist companies- Pipe Coaters, Tenaris, and Titan Tubulars. Also visited was the ultra-modern aluminum boat building company-West Atlantic Shipyard.
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