The Managing Director of the Oil and Gas Free Zones Authority, Bamanga Usman Jada, has revealed that OGFZ have attracted over $24.6 billion in direct investments, boosting industrialisation, skills development, and job creation.
He made this know while speaking at the 3rd Special Economic Zones Annual Meeting in Lagos themed: ‘Fostering Strategic Synergies for Enhanced Special Economic Zones Operations and Sustainable Economic Growth’.
The meeting had in attendance the Honourable Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, MFR, representatives of the governors of Lagos and Kogi States, Managing Director of NEPZA Dr. Olufemi Ogunyemi, the Chairman of Nigerian Economic Zones Association, Chief Nabil Saleh and his board members.
Jada commended President Bola Ahmed Tinubu’s administration for prioritising economic reforms that enhance investment inflows.
“The President’s commitment to strengthening the Special Economic Zones framework has created an enabling environment for both foreign and domestic investors,” Jada said.
Jada highlighted major projects under OGFZA’s supervision, including a newly established Compressed Natural Gas (CNG) conversion center in Onne/Ikpokiri.
“This facility is set to reduce logistics costs by up to 70 per cent while promoting the transition to cleaner energy,” he stated.
He also announced ongoing efforts to expand LPG infrastructure, with a 70,000MT processing plant under construction in Onne and Liberty Free Zones.
“This project will ensure access to clean cooking gas for over 200,000 homes and contribute to environmental sustainability,” Jada noted.
Reflecting on job creation in the sector, Jada also harped on the impact of specialised training programs.
“OGFZA has facilitated the training of 31,404 Nigerians in hi-tech petroleum industry skills.
“Today, leading oil and gas firms operating in our zones, including Baker Hughes, TechnipFMC, and Tenaris, have Nigerian CEOs, demonstrating our success in local capacity building,” he said.
Jada also underscored the role of the Orashi Energy Free Zone in advancing Nigeria’s Decade of Gas Initiative.
“With the recent commissioning of the ANOH Gas Processing Plant and a 23.3km gas pipeline, Nigeria’s domestic gas supply is set to increase by 25 per cent, significantly boosting industrialisation and reducing gas flaring,” he explained.
Jada called on the Nigeria Economic Zones Association (NEZA) to support OGFZA’s efforts in educating businesses about its Enterprise Resource Planning (ERP) software.
“The ERP system enhances regulatory compliance by tracking all cargo entering our free zones, preventing unauthorised movements and ensuring transparency,” he said.
He concluded by appreciating the organisers of the annual meeting and encouraging continued collaboration to maximise the benefits of SEZs.
“This gathering is crucial for shaping policies that will further drive investment and economic growth in Nigeria,” Jada added.
