It emerged at the weekend that no fewer than 16 companies have withdrawn their operations from the Onne Free Trade Zone.

This comes as the Oil and Gas Free Zones Authority (OGFZA) has been accused of damaging the concept of free trade zones in the country.

A Port Harcourt based oil and gas industry expert, Dr. Austin Obieze linked the exit of the 16 companies to what he described as “rogue behaviour” towards free zone operators in the country.

Speaking at the weekend in Port Harcourt, Obieze said the recent attack by OGFZA against a leading free trade zone operator, Intels Nigeria Limited (INL), sent the wrong signal and created panic among businesses operating in the zones.

“It was a very bad move by OGFZA, which was set up to promote trade and attract investors into the country through the oil and gas free zones concept. OGFZA, under Umana Okon Umana are doing the direct opposite of what it was established to do,” Obieze said.

He said by OGFZA’s action against Intels, free trade zones operation in Nigeria “cannot be the same again” as investors will find it difficult to take government for its words.

He said: “Free trade zones all over the world are created to serve as destination for capital; attract investment, create jobs and aid the transfer of technology to the host country. Free trade zones played a key role in the boom enjoyed by the Asian Tigers.

“The Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA) were specifically set up by the Federal Government to encourage investments in Nigeria in line with the country’s economic growth aspirations.

“Several incentives were instituted including 100% repatriation of capital investment, remittance of profits and dividends with no import or export licenses required.

“Companies operating in the free zones also enjoy immigration non-quota regime and are exempt from taxes such as value added tax, corporate tax, withholding tax, capital gains tax and customs duty on export of goods to other countries.

“It was these incentives that attracted several companies resulting in over five trillion naira investments in the zones, with several thousands of jobs created.

“NEPZA and OGFZA were set up to serve as enablers of trade but unfortunately while NEPZA has remained on course, Umana’s OGFZA has obviously lend itself to becoming an object of political vendetta and consequently derailed from its set objectives and the intents of its enabling Act.”

Among the 16 companies that have decided to exit the free zone are Prodeco International Limited, West Africa Machinery Services (WAMS), MGM Logistics Solutions Limited and Orlean Invest Limited.

Also speaking on OGFZA’s battle against Intels, The Managing Director/COO of Samsung Heavy Industries in Nigeria, Mr. Frank Ejizu, said: “You cannot be wooing investors on one hand and scaring them away on the other hand. It will not work. If there was a violation of the law, then there is a ground for sanction.”

The General Manager, Finance of the Lagos Channel Management Company Limited, Mr. Joseph Amoni, said the action of the government would scare foreign investors away from the country.

Also, the Chairman, House of Representatives Committee on Maritime Safety, Education and Administration, Mohammed Umar Bago, said the situation was “getting sour”.

A former Senior Special Assistant to former President Goodluck Jonathan on Maritime Matters, Mr. Leke Oyewole, on his part, warned against the political witch-hunt against Intels.


http://www.thisdaylive.com/index.php/2017/11/20/16-companies-exit-onne-free-trade-zone/

We miss Jonathan

And there goes thousands of job.
A useless government that is yet to generate a single job destroying gains of the past due to dirty politics

This is terrible news. We need to remedy this situation. The government idiotic actions are harming economy by flip flopping on policy if this news is true.

Just cos of 2019, everything should be destroyed.

we keep losing investors and the FG is Talk is talking about borrowing to find the 2018 budget. . we must admit that this Buhari -led administration is up to no good. incompetence of the ministries to deliver has made it almost impossible to do anything in Nigeria.

NgeneUkwenu:
PDP sponsored article to maligned Umana Umana....

Nigeria is not a banana republic...if you cannot stand the rules and feel you can blackmail the govt using job loss propaganda...it wont work.

This is no longer PDP/Jonathan time, when stealing was not corruption...Every kobo due to the govt must be paid into its coffer..or you pack and leave the scene for genuine investors to come in.

Don't be stupid for heaven's sake. What does PDP have to do with this? Which rules? The one laid down by the firms or that by OGFZA? Here's one of the main reasons which I have quoted for you:

It was a very bad move by OGFZA, which was set up to promote trade and attract investors into the country through the oil and gas free zones concept. OGFZA, under Umana Okon Umana are doing the direct opposite of what it was established to do

Blue3k:
This is terrible news. We need to remedy this situation. The government idiotic actions harming economy with flip flopping if this news is true.

Apparently, the goat I first quoted thinks it is an opposition sponsored article and not a fault of the government.

Feraz:
Don't be stupid for heaven's sake. What does PDP have to do with this? Which rules? The one laid down by the firms or that by OGFZA? Here's one of the main reasons which I have quoted for you:



Apparently, the goat I first quoted thinks it is an opposition sponsored article and not a fault of the government.

That ewu and sarrki dont deserve reply on nairaland.

Ignore them pls

NgeneUkwenu:


If you werent stupid, you would have seen that the whole article were laced with bare faced lies, unfairness and unethical reporting by thisday newspaper. No effort was made to balance the report, not even a call the ONFGZ or its chairman to hear their own view....

just wasted my time with another brainwashed pained ipob/pdp yoot.

You're a very foolish cow because if you weren't, you wouldn't have made this a party affair in the first place. That Umana was not contacted to give his own side does not mean PDP sponsored it. 'pained IPOB/PDP yoot'...That's the only phrase your unicellular brain can learn.

Buhari must continue in 2019. God is using him to deal with Nigerians. They say people get the type of government that they deserve.

[img]https:///media/11-20-2017/xh49-7.gif[/img]

Umana Umana

MMM that year...

If u thoroughly read this post u will understand and give a deep thought into this matter, u will have no option than to agree that the issue is similar to what might have happened or occurred or even a resemblance of something that will definitely elude a mere human prowess and finally come to the conclusion that I have nothing to say....���

can't stop laughing

all these just in bid to justify what they did to atiku's intels.

Story! Lies form the pit of hell.

Orlean Invest is a conglomorate offering several services in the Oil and Gas sector. They own

1. WAMS Machinery
2. MDM Logistics
3. Prodeco Limited

and finally, guess what else they own stake in?

4. Intels Nigeria Ltd.

Among the 16 companies that have decided to exit the free zone are Prodeco International Limited, West Africa Machinery Services (WAMS), MGM Logistics Solutions Limited and Orlean Invest Limited.

Isn't it funny that among the 16 supposedly companies that left, the only ones listed are the subsidiaries of Orlean Invest? They should keep sponsoring lies; afterall, its their money and thisday newspaper has to pay their staff.
But we cannot be intimidated by their lies! They are not bigger nor stronger than the laws of the lands. Treasury Single Account must be obeyed to the later.

Its getting worst everyday

F

Issorite!

NgeneUkwenu:
PDP sponsored article to maligned Umana Umana....

Nigeria is not a banana republic...if you cannot stand the rules and feel you can blackmail the govt using job loss propaganda...it wont work.

This is no longer PDP/Jonathan time, when stealing was not corruption...Every kobo due to the govt must be paid into its coffer..or you pack and leave the scene for genuine investors to come in.

Are you even a Nigerian ??

This is more than a party affair or supporters crew thing. Let's be bothered when something worrisome is happening

aolawale025:
And there goes thousands of job.
A useless government that is yet to generate a single job destroying gains of the past due to dirty politics

We both know u know nothing about the workings of the free trade zone, but ur hands are itching you to write something

nwakibie3:
It emerged at the weekend that no fewer than 16 companies have withdrawn their operations from the Onne Free Trade Zone.

This comes as the Oil and Gas Free Zones Authority (OGFZA) has been accused of damaging the concept of free trade zones in the country.

A Port Harcourt based oil and gas industry expert, Dr. Austin Obieze linked the exit of the 16 companies to what he described as “rogue behaviour” towards free zone operators in the country.

Speaking at the weekend in Port Harcourt, Obieze said the recent attack by OGFZA against a leading free trade zone operator, Intels Nigeria Limited (INL), sent the wrong signal and created panic among businesses operating in the zones.

“It was a very bad move by OGFZA, which was set up to promote trade and attract investors into the country through the oil and gas free zones concept. OGFZA, under Umana Okon Umana are doing the direct opposite of what it was established to do,” Obieze said.

He said by OGFZA’s action against Intels, free trade zones operation in Nigeria “cannot be the same again” as investors will find it difficult to take government for its words.

He said: “Free trade zones all over the world are created to serve as destination for capital; attract investment, create jobs and aid the transfer of technology to the host country. Free trade zones played a key role in the boom enjoyed by the Asian Tigers.

“The Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA) were specifically set up by the Federal Government to encourage investments in Nigeria in line with the country’s economic growth aspirations.

“Several incentives were instituted including 100% repatriation of capital investment, remittance of profits and dividends with no import or export licenses required.

“Companies operating in the free zones also enjoy immigration non-quota regime and are exempt from taxes such as value added tax, corporate tax, withholding tax, capital gains tax and customs duty on export of goods to other countries.

“It was these incentives that attracted several companies resulting in over five trillion naira investments in the zones, with several thousands of jobs created.

“NEPZA and OGFZA were set up to serve as enablers of trade but unfortunately while NEPZA has remained on course, Umana’s OGFZA has obviously lend itself to becoming an object of political vendetta and consequently derailed from its set objectives and the intents of its enabling Act.”

Among the 16 companies that have decided to exit the free zone are Prodeco International Limited, West Africa Machinery Services (WAMS), MGM Logistics Solutions Limited and Orlean Invest Limited.

Also speaking on OGFZA’s battle against Intels, The Managing Director/COO of Samsung Heavy Industries in Nigeria, Mr. Frank Ejizu, said: “You cannot be wooing investors on one hand and scaring them away on the other hand. It will not work. If there was a violation of the law, then there is a ground for sanction.”

The General Manager, Finance of the Lagos Channel Management Company Limited, Mr. Joseph Amoni, said the action of the government would scare foreign investors away from the country.

Also, the Chairman, House of Representatives Committee on Maritime Safety, Education and Administration, Mohammed Umar Bago, said the situation was “getting sour”.

A former Senior Special Assistant to former President Goodluck Jonathan on Maritime Matters, Mr. Leke Oyewole, on his part, warned against the political witch-hunt against Intels.


http://www.thisdaylive.com/index.php/2017/11/20/16-companies-exit-onne-free-trade-zone/

It is finished then...cos these are the key players in the OGFZA, thousands of people are already home...

From the article the companies did not treat the authorities well

Hmmm.recession truely...

This is bad news ooo. Hope it ain't true

NgeneUkwenu:
PDP sponsored article to maligned Umana Umana....

Nigeria is not a banana republic...if you cannot stand the rules and feel you can blackmail the govt using job loss propaganda...it wont work.

This is no longer PDP/Jonathan time, when stealing was not corruption...Every kobo due to the govt must be paid into its coffer..or you pack and leave the scene for genuine investors to come in.

You must be so dumb for not realising the effect this will cause. You think everything is about politics? Not less than 2000 people lost their job coz of this nd you here screaming propaganda.

Wait till the madness reach ur doorstep lets see if u will still have d data to type propaganda. Rubbish!

NgeneUkwenu:
PDP sponsored article to maligned Umana Umana....

Nigeria is not a banana republic...if you cannot stand the rules and feel you can blackmail the govt using job loss propaganda...it wont work.

This is no longer PDP/Jonathan time, when stealing was not corruption...Every kobo due to the govt must be paid into its coffer..or you pack and leave the scene for genuine investors to come in.

what rule did intel brake, care to enlighten me plz, Im lost here.

sinaj:
You must be so dumb for not realising the effect this will cause. You think everything is about politics? Not less than 2000 people lost their job coz of this nd you here screaming propaganda.

Wait till the madness reach ur doorstep lets see if u will still have d data to type propaganda. Rubbish!

Abeg madam, nobody left anywhere. This article is sponsored by INtels. Orlean Invest owns those 3 companies listed as having left and they also have a stake in Intels. This is just an attempt to curry pity and armtwist the government. Nothing more.

This is a sponsored article.. Anyone that works in the zone would acknowledge that companies have started trooping out in droves before now....

Due mainly to the crazy charges by INTELS!!

MaziOmenuko:


Abeg madam, nobody left anywhere. This article is sponsored by INtels. Orlean Invest owns those 3 companies listed as having left and they also have a stake in Intels. This is just an attempt to curry pity and armtwist the government. Nothing more.

They gave the whites deadline to exit the place. Investors are also leaving, same with companies nd people are loosing their jobs too just coz of some stupid feud Atiku is having with Buhari.

Btw this isnt a sponsored post