Connect with us
Advertise With Us

NEWS

LADOL Denies High Charges In Oil, Gas Free Zones

Published

on


The Lagos Deep Offshore Logistic (LADOL) Base has denied report of high charges in the oil and gas free zones, saying all charges levied in the Free Zone by the authority and the management are statutory, including the recently referenced 1% charge.

LEADERSHIP recalls that there were reports from foreign investors in Nigeria’s oil and gas sector over  high charges in Nigeria’s oil and gas free zones, saying the development would discourage efforts to attract investments and grow the country’s oil and gas reserves and production capacity.

It was reported that investors that staked millions of dollars in some of the private free zones are on the verge of losing their investments after demonstrating faith in Nigeria’s operating environment.

But, in a press briefing by the managing director of LADOL, Dr Amy Jadesinmi, yesterday, she stated that all tariffs are mandated by the federal government policy, which are subsequently issued within a transparent framework.

She said: “No Free Zone Enterprise operating in LADOL Free Zone has ever been charged any amount by the management or the Authority that was not on the government approved tariff schedule.

“The enterprises operating within LADOL Free Zone and the related parties have met with and discussed these charges with government in detail, as they are statutory charges. This is not a unilateral action and to state otherwise is incorrect.

“To operate within a Free Zone, companies must meet certain legal criteria. These criteria include compliance with zone regulations on employment and working conditions, as well as obeying free zone rules and the laws of the Federal Republic of Nigeria.”

Jadesinmi further disclosed that the charges at the free zone are known to the law and are required to maintain the zone.

“Free Zones in Nigeria offer investors a peaceful, safe, and cost-effective environment, with minimal bureaucracy. By design, the benefits foreign companies enjoy far outweigh the statutory charges levied by the Free Zone Management and Authority.



Copyright LEADERSHIP.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from LEADERSHIP Nigeria Newspapers. Contact: [email protected]





Which party would you vote for President in the 2019 general election?

View Results

Loading ... Loading ...


Advertisement

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments
Advertisement

Sign up for our newsletter

Advertisement

MOST POPULAR

Pin It on Pinterest

Share This

Share this post with your friends!