BUHARI IS A PLAGUE

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It emerged at the weekend that no fewer than 16 companies have withdrawn their operations from the Onne Free Trade Zone.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

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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.

I read the article and they didn't mention anything the government did that was an attack. So asking Intels to pay money it collects on behalf of FG is an attack? What specifically did Umana or the organisation he head do for those companies to leave?

Sai baba Zombies where are them

Can you own a company in England and not obey their laws?
What about France, Canada, Japan, China, USA or South Africa?

Use TSA but that fraudulent human called Atiku said no. He and his cronies wants to be cheating the country. If they want to leave, let them get out.

They want to hoodwink FG and find sympathy from gullible Nigerians.

Let them move to another country and try that nonsense their

erico2k2:

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

FG want Intel to pay all money it collects on behalf of FG to FG first, then they will share according to sharing formula. Intel want to collect the money into its own account and pay FG their share. Nigerian constitution says all FG money should go to Consolidated account. FG a Intel contract says Intel to collect money into her account. FG said contract is illegal as long as it doesn't follow constitution and insist Intel pay all money into F account first. Intel refused. FG sacked Intel.

Is FG wrong?

sinaj:
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

If you really want to do a root-cause analysis, you have to be a bit more thorough. Nobody cares if Atiku wants to be a president; the TSA has been the issue at hand even before Atiku declared his intentions. But if he wants to hide under the caption of political witch-hunt, he can go on.

I still insist that this publication is sponsored to curry pity and you are already falling for it.

obataokenwa:
That ewu and sarrki dont deserve reply on nairaland.

Ignore them pls

That person or thing is a shame to humanity.
Not only has commonsense deserted him/her but his/her level of Buhari ar se licking is unprecedented.
He/she or thing also abhors any rational discuss,calling on the moderators to ban whoever he/she knows will puncture her ar se licking and put her in the trashy can he/she belongs.
The moderators,unfortunately have been all too willing to succumb to his/her blackmail tactics.

tspun:
Its getting worst everyday

Perhaps you should get on a boat to Spain, where it's getting better everyday.

The less parasites we have in this country the better.

mfm04622:


FG want Intel to pay all money it collects on behalf of FG to FG first, then they will share according to sharing formula. Intel want to collect the money into its own account and pay FG their share. Nigerian constitution says all FG money should go to Consolidated account. FG a Intel contract says Intel to collect money into her account. FG said contract is illegal as long as it doesn't follow constitution and insist Intel pay all money into F account first. Intel refused. FG sacked Intel.

Is FG wrong?

FG is wrong and i will tell you why, this has nothng to do with APC/PDP
Now the constitution only says money for FG should be paid into FG's account it did not specify how and when.if you coolect money on behalf of a person you get the money paid to your bank account and then transfer,If you have an existing sharing formula ie say U 25% and Fg 75%, whats wrong you then transfering 75% of FG Onwards to their desired account?
what will happen to Intel would have been the thier own sahre turning into Debt o n the part of teh FG,This is why some in the political spectrum are singing the witchunting song if U get me.
If The law thus said the whole money should be transfered to the FG account then tel me what is the need for 3rd party like Intel?by so doing the Fg will incure additional cost cos they will now need an office to work out the 4 due to Intel.

Lol. Buhari. You're trying to improve ease of doing business to attract new investments but at the same time driving existing businesses aground. That free trade zone is about the only working industrial zone in Nigeria now. Yet, you are bent on destroying it. Something you can never create.

film dhdhdh

Bossjosh:
Can you own a company in England and not obey their laws?
What about France, Canada, Japan, China, USA or South Africa?

Use TSA but that fraudulent human called Atiku said no. He and his cronies wants to be cheating the country. If they want to leave, let them get out.

They want to hoodwink FG and find sympathy from gullible Nigerians.

Let them move to another country and try that nonsense their

Did you read about the real issue Intel has with the FG?

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.

Very senseless talk ..SMH

mfm04622:


FG want Intel to pay all money it collects on behalf of FG to FG first, then they will share according to sharing formula. Intel want to collect the money into its own account and pay FG their share. Nigerian constitution says all FG money should go to Consolidated account. FG a Intel contract says Intel to collect money into her account. FG said contract is illegal as long as it doesn't follow constitution and insist Intel pay all money into F account first. Intel refused. FG sacked Intel.

Is FG wrong?

If you have sense you will know that the TSA is only for govt funds and as long as INTELs pays FG her percentage at source there is no prblem ..If this is not just dirty politics why hasnt the FG told Chevron and shell to pay all their earnings into TSA ,,

Bossjosh:
Can you own a company in England and not obey their laws?
What about France, Canada, Japan, China, USA or South Africa?

Use TSA but that fraudulent human called Atiku said no. He and his cronies wants to be cheating the country. If they want to leave, let them get out.

They want to hoodwink FG and find sympathy from gullible Nigerians.

Let them move to another country and try that nonsense their

I will be praying for low IQ issues so you can PM me

Deeldorado:
Lol. Buhari. You're trying to improve ease of doing business to attract new investments but at the same time driving existing businesses aground. That free trade zone is about the only working industrial zone in Nigeria now. Yet, you are bent on destroying it. Something you can never create.

He has already destroyed it

erico2k2:
Did you read about the real issue Intel has with the FG?

Ohh please tell me

Bossjosh:


Ohh please tell me

Intel insist they pay the FG share of remitance less thier own % Fg says NO!

FarahAideed:


I will be praying for low IQ issues so you can PM me

You that have high IQ, why aren't you the minister for IQ affairs? Please don't quote me if you cannot face topic. I don't throw jabs

FarahAideed:


If you have sense you will know that the TSA is only for govt funds and as long as INTELs pays FG her percentage at source there is no prblem ..If this is not just dirty politics why hasnt the FG told Chevron and shell to pay all their earnings into TSA ,,

Thank you very much, this is why people are saying its politics.

erico2k2:

Intel insist they pay the FG share of remitance less thier own % Fg says NO!

You collect money for me, aren't you suppose to bring the money then I give you your quota?

If you disagree, I can get another person to be collecting same money for me. Abi?

Bossjosh:


You collect money for me, aren't you suppose to bring the money then I give you your quota?

If you disagree, I can get another person to be collecting same money for me. Abi?

Nop thats not how it works.When bellif collect money, thay add thier own charges,you get paid you own money not the whole money collected.This is how 3rd party brokers work.There is nowhere in the World where a 3rd party broker/collector will remit 1005 to its principle.
If you do this then it penny wise pounds foolish cos you will incure more cost.
The only reasons govt of the worls contract money collection to 3rd parties is to cut cost.By employing Intel to do the collection the office that would do that on the part of the FG is dismissed therby saving cost.if Intel is to remit the whole money bck to the Fg the Fg would now need to re instate an office or people paid salaries to update,compute and pay back % due to intel which will come at a cost, work done O, hope you understand this goes beyound comon sense!

CROWNWEALTH019:
We miss Jonathan

miss him for what

Body odour has scared them away.

FrankGiel:


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

It's unfortunate that you claim to know it all but you cannot figure out that Nigerians are employed by companies in the free trade zones

erico2k2:

Nop thats not how it works.When bellif collect money, thay add thier own charges,you get paid you own money not the whole money collected.This is how 3rd party brokers work.There is nowhere in the World where a 3rd party broker/collector will remit 1005 to its principle.
If you do this then it penny wise pounds foolish cos you will incure more cost.
The only reasons govt of the worls contract money collection to 3rd parties is to cut cost.By employing Intel to do the collection the office that would do that on the part of the FG is dismissed therby saving cost.if Intel is to remit the whole money bck to the Fg the Fg would now need to re instate an office or people paid salaries to update,compute and pay back % due to intel which will come at a cost, work done O, hope you understand this goes beyound comon sense!

OKAY. I get you now

failure of leadership, please dont stay back, get registered, we are young, we need these jobs no mata how small.the time is now, ...lets kick them out come 2019..a clarion call for action.

erico2k2:

FG is wrong and i will tell you why, this has nothng to do with APC/PDP
Now the constitution only says money for FG should be paid into FG's account it did not specify how and when.if you coolect money on behalf of a person you get the money paid to your bank account and then transfer,If you have an existing sharing formula ie say U 25% and Fg 75%, whats wrong you then transfering 75% of FG Onwards to their desired account?
what will happen to Intel would have been the thier own sahre turning into Debt o n the part of teh FG,This is why some in the political spectrum are singing the witchunting song if U get me.
If The law thus said the whole money should be transfered to the FG account then tel me what is the need for 3rd party like Intel?by so doing the Fg will incure additional cost cos they will now need an office to work out the 4 due to Intel.

FG feel Intel is under declaring amount generated. FG feel they don't have the capacity to offer the required services, reason they employed Intels. Atiku is a minority shareholder in the company, reason it is not witch hunting .

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.

do u knw anything abt free trade zone?

Abi u r just a mumu

erico2k2:

Nop thats not how it works.When bellif collect money, thay add thier own charges,you get paid you own money not the whole money collected.This is how 3rd party brokers work.There is nowhere in the World where a 3rd party broker/collector will remit 1005 to its principle.
If you do this then it penny wise pounds foolish cos you will incure more cost.
The only reasons govt of the worls contract money collection to 3rd parties is to cut cost.By employing Intel to do the collection the office that would do that on the part of the FG is dismissed therby saving cost.if Intel is to remit the whole money bck to the Fg the Fg would now need to re instate an office or people paid salaries to update,compute and pay back % due to intel which will come at a cost, work done O, hope you understand this goes beyound comon sense!

Nba! It is when the 3rd party collects into his pockets that you need an office with staff and verify, update and compute. When the 3rd party collects to your pocket, it is easy to tell the system "everyday (or every month) by x time, send y% of the money is this account to this account and send the balance to this account" simple
Are these companies doing us us favour by operating in Nigeria? If they are tired of making money in Nigeria, let them go!

timidapsin:
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....���

GBAM!!
U just hit the head on the nail....