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Free zone authority attracts $15.97b investment commitment - Official

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OGFZA is the government agency responsible for promoting, securing and sustaining investments in the oil and gas-free zones in the country.

The Oil and Gas Free Zones Authority on Wednesday said it attracted a total investment commitment of $15.97 billion from new and existing investors in five of the oil and gas-free trade zones between 2021 and 2025.

Speaking on Wednesday, Mr Kaura said OGFZA has gained 27 years of experience in regulating the petroleum sector special economic zones and has, within this period, achieved monumental successes. “Between 2021 and 2025, OGFZA attracted a total investment commitment of $15.97 billion from new and existing investors in five oil and gas-free zones,” Mr Kaura said.

“These key indices include the Foreign direct investment of $21.6 billion between 2001 – 2021, Technical skills transferred to Nigerians 35,330 between 2001 – 2021, and the number of Nigerians who have secured various levels of direct employment are 41, 085 persons and 164,000 indirect employments within the same period,” he said.

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