Stakeholders seek FG’s intervention in regulation of free trade zones

Some stakeholders under the auspices of Free Zones stakeholders have called on the federal government to as a matter urgency wade in into the crisis currently rocking the regulation of free trade zones in Nigeria
They also allege misrepresentation of Oil and Gas Export Free Zones Authority (OGEFZA) by the Umana Okon Umana led Management by trying to sabotage the economy of Nigeria by discouraging investments in NEPZA approved Free Zones, a situation which may lead to investors pulling out their investments.

In a statement by the Stakeholders, they stated  that the Oil and Gas Export Free Zone Act Laws of the Federation ofNigeria, 2010 (Act) unambiguously established Oil and Gas ExportFree Zone Authority (OGEFZA) to manage and operate a designated Oil and Gas Export Free Zone at Onne/Ikpokiri area of Rivers State, but alleged that the regulatory agency has gone beyond it’s bounds.
They also alleged that regulatory agency deliberately expunged fromthe name of OGEFZA the word “Export” and replaced the word “Zone” with “Zones” contrary to the extant legislation of the National Assembly.
The stament reads: “Since the enactment of the Act, there has been no amendment to the Act by the National Assembly either by changing Oil and GasExport Free Zone Authority to Oil and Gas Free Zones Authority (which is the current name being used by the Umana Okon Umana led Management of OGEFZA) or extending the regulatory jurisdiction of OGEFZA beyond the designated Oil and Gas ExportFree Zone at Onne/Ikpokiri area of Rivers State of Nigeria.
“Despite the fact that the provisions of the Act have not beenamended and the law still restricts the regulatory functions ofOGEFZA to Onne/Ikpokiri area of Rivers State, the Umana Okon Umana led Management of OGEFZA has ontinued to violate the express provisions of the Act by licensing other Free Zones like Brass Oil and Gas City, Warri Oil and Gas Free Zone, Eko SupportServices etc which are located outside the designated Oil and GasExport Free Zone at Onne/Ikpokiri area of Rivers State.
“The latest attempt by the Umana Okon Umana-led Management ofOGEFZA is to surreptitiously take over the operations of some FreeZones already within the regulatory control of NEPZA without recourse to due process or any legislative amendment to that effect,”
Speaking further, they noted that the “Ease of Doing Business” strides is aimed at boosting local and foreign investors into the country but withthe continued activities of OGEFZA, a lot of investors in the country andother prospective investors would begin to doubt government’s ingenuity towards “Ease of Doing Business”.

They therefore called on the federal government to investigate misrepresentation of OGEFZA and also look into activities of the Umana Okon Umana led Management of OGEFZAso as to protect investments worth billions of Naira.