OGZA

Abuja, Feb. 11, 2024: The Managing Director, Oil and Gas Free Zones Authority (OGFZA), Mr. Bamanga Jada, says it will mobilize investment in the sector in the country.

Mr Golda Ukomadu, Assistant General Manager Corporate Communications, OGZA, said this in a statement in Abuja on Saturday.

He said the oil and gas industry was critical to boosting investment in the country, considering the increasing appeal to foreign direct investors.

He said that the completion of a $112 million state-of-the-art facility by the APM Terminals would create employment for 900,000 skilled and unskilled workers.

This, according to him, is also due to the promise made by the Global Chief Executive Officer, Frederik Kinke, to invest an additional $500 million over the next four years to boost operational efficiency.

“The Special Economic Zones have become magnets for foreign direct investment, thanks largely to President Bola Tinubu’s unwavering support for enhancing productivity and building a resilient economy.”

Jada said that employment and investments were on the horizon due to the recent decisions of international firms to raise their investments in Nigeria.

He said, “SEZs have attracted over $66 billion into Nigeria, while expressing optimism that SEZs would have contributed over 3 million jobs by the end of the year.

This, he said, is the sequel to the construction of a 50,000-metric-ton storage facility, adding that Nesgas LPG was about to change the game in both the domestic and international LPG markets.

“The construction of this facility is projected to create over 100,000 direct jobs and help launch 500,000 enterprises.

“”This venture not only underscores the untapped opportunities across Nigeria and Africa but also positions Nigeria as a key player in the global gas supply chain.”

Jada said that Tinubu’s agenda of employment and job creation was achievable, adding that the president’s target to bring Nigerians to a $1 trillion economy is achievable.

He said that he had earlier had a fruitful meeting on partnership for gas supply with a delegation from Shell Nigeria Ltd. and Shell Energy Nigeria.

He said that Shell had denied claims of exiting Nigeria, reaffirming that Shell is rather diversifying and making new investments into more environmentally friendly energy sources.

He added that gas was very critical to national development.