Mkpoikana Udoma
Port Harcourt — Sterling Petrochemicals and Fertilizer Production’s free trade zone, SPFL FTZ, in the newly-created Liberty Oil and Gas Free Trade Zone, when completed will attract $19 billion foreign direct investments and generate 25,000 jobs.
The head of Liberty Oil and Gas Free Trade Zone, Nittin Shah, disclosed this during the inaugural tour of the zone by the Managing Director of OGFZA, Sen. Tijjani Yahaha Kaura.
Liberty Oil and Gas Free Trade Zone, LOGFZ, which cuts across six local government areas in Akwa Ibom State, is the largest Oil and Gas Free Zone in West Africa with a landmass, measuring about 50,000 hectares.
LOGFZ has recorded the licensing of 11 sub Free Zone Entreprises among which is SPFL Gas and Petrochemicals Free Zone operating in the zone.
In a presentation, the head of LOGFZ, Nittin Shah, explained that SPFL was a developer focused on gas downstream projects such as LPG, LNG, petrochemicals and port jetty shipping.
Shah said SPFL FTZ has a landmass of 1736 hectares, and was strategically located with proximity to the Oil and Gas fields.
“The developer is currently constructing two bridges over the major creek.
“Upon completion, SPFL FTZ will generate over 25,000 employment of Nigerians, attract over $19bn Foreign Direct Investment into the country, and fully position Nigeria as a net exporter of Gas and other petrochemical products.”
Responding, the Managing Director of OGFZA, Sen Tijjani Kaura, commended the investors for considering Nigeria as its investment destination, and assured them of his support in addition to the support and investment incentives the Authority has been providing to encourage them.
“As you know, the Free Zone is established by the Country’s Government in order to provide some incentives and support in all ramifications. So be sure that you will get all our support within the Authority and beyond. We have the capacity to get you this support for you in the upper level of government.”
Also speaking, the Deputy General Manager, Trade and Investment of OGFZA, Mr Adamu Kontagora, commended SPFL FTZ for being able to accomplish the mandate of the federal government for free zones which is to attract foreign direct investments.
Kontagora assured of the commitment of the Regulator’s support under the new leadership of Sen. Yahaya Kaura.
Follow us on twitter