Federal Govt Plans More Free Zones To Boost OGFZA Revenue

Federal government has said it will create more free zones in the country in order to boost the internally generated revenue of Oil and Gas Free Zones Authority ((OGFZA).

OGFZA managing director, Tijjani Yahaya Kaura, disclosed this while addressing management and staff of the Onne Oil and Gas Free Zone, at Onne, Rivers State, during first official visit to the free zone after assuming office.

During the visit, Kaura met with other stakeholders in the free zone, including the area controller of Nigerian Customs Service as well as heads of the Nigerian Police, Nigerian Immigration Service (NIS) and the Department of State Services (DSS).

The managing director restated that the main objective of the authority was to grow the economy of the country, saying that there was the need to be tactical in pursuing the set objectives of the Authority

He said, “I want to remind us that there is need to be tactical in pursuing the set objectives of the Authority. The main objective of OGFZA is to grow the country’s economy.

“While doing that there is need to strike a balance and an effective equilibrium on getting investors and giving incentives, because it is only the constant growth of the economy that determine the strength of any country.

“There is also the need to think outside the box in order to be self-sufficient by generating revenue to support the federal government’s decision which says the Authority must fund its staff salaries.

“Therefore, there is need to look for more areas to generate IGR. The opening more free zones will be vital to achieving this purpose,” he said.