In the oil and gas industry, foreign investors are targeting investing in refining, petrochemical, manufacturing, fabrication and Marine Logistics facilities in free trade zone and International Contracting Companies preference today is to set up and carry out their manufacturing/fabrication works in Free Trade Zone cos of the tax reliefs it provides. This is one strategic reason behind Lagos private sector development and their private sector driven economy. As the oil and gas industry provides the highest foreign direct investments to Nigerian economy till date.
Simple forecast shows that investments expectations in the oil and gas industry within the next 25 years shall be in excess of 75 billion USD. States in Nigeria like Lagos State where most of the investment and works shall be carried out shall stand to gain a lot from the Nigerian oil and gas economic development in the coming years. Worthy to note is the fact that the international oik companies and contracting companies preference will be to carry out most of the manufacturing/fabrication works in Free Trade Zones.
Just to mention theFree Trade Zones in Nigeria that presently attracts oil and gas investments and where most of the manufacturing/fabrication works are being carried out:
1. Lekki – ÉPE FTZ – Lagos.
2. LADOL FTZ – Lagos.
3. SNAKE ISLAND/Niger Dock – Lagos.
4. ONNE FTZ – Rivers State
Worthy to note that Delta State has none at the moment. It can be said that we have been systematically been played out of the economic equation of the Nigerian oil and gas industries.
Once upon a time, fabrication works on multi billion dollars projects like the Chevron Agbami Project, Total USAN Project and Akpo Project, Exxonmobil Erha North Project were all done in Warri, Delta State but today most works in ongoing projects like the Total Egina is carried out in LADOL FTZ and upcoming multi billion dollars projects like the Exxonmobil Owowo Project, Exxonmobil Bosi Project, Shell Bonga South West Project, Agip Zabazaba Project, Total Preworei Project, Chevron Osikan Project shall be executed in Lagos most probably.
The Sapele Industrial City (SICITY) is a safe haven free trade zone conceptualization to change the social economic equation of Nigeria and make Delta State not only center of oil and gas investments but manufacturing in Africa.
Roland E. IDIMI (UBIOMOR).
SI-CITY will Change the Socioeconomic Equation for Delta State – Roland E. IDIMI (UBIOMOR)
In the oil and gas industry, foreign investors are targeting investing in refining, petrochemical, manufacturing, fabrication and Marine Logistics facilities in free trade zone and International Contracting Companies preference today is to set up and carry out their manufacturing/fabrication works in Free Trade Zone cos of the tax reliefs it provides. This is one strategic reason behind Lagos private sector development and their private sector driven economy. As the oil and gas industry provides the highest foreign direct investments to Nigerian economy till date.
Simple forecast shows that investments expectations in the oil and gas industry within the next 25 years shall be in excess of 75 billion USD. States in Nigeria like Lagos State where most of the investment and works shall be carried out shall stand to gain a lot from the Nigerian oil and gas economic development in the coming years. Worthy to note is the fact that the international oik companies and contracting companies preference will be to carry out most of the manufacturing/fabrication works in Free Trade Zones.
Just to mention theFree Trade Zones in Nigeria that presently attracts oil and gas investments and where most of the manufacturing/fabrication works are being carried out:
1. Lekki – ÉPE FTZ – Lagos.
2. LADOL FTZ – Lagos.
3. SNAKE ISLAND/Niger Dock – Lagos.
4. ONNE FTZ – Rivers State
Worthy to note that Delta State has none at the moment. It can be said that we have been systematically been played out of the economic equation of the Nigerian oil and gas industries.
Once upon a time, fabrication works on multi billion dollars projects like the Chevron Agbami Project, Total USAN Project and Akpo Project, Exxonmobil Erha North Project were all done in Warri, Delta State but today most works in ongoing projects like the Total Egina is carried out in LADOL FTZ and upcoming multi billion dollars projects like the Exxonmobil Owowo Project, Exxonmobil Bosi Project, Shell Bonga South West Project, Agip Zabazaba Project, Total Preworei Project, Chevron Osikan Project shall be executed in Lagos most probably.
The Sapele Industrial City (SICITY) is a safe haven free trade zone conceptualization to change the social economic equation of Nigeria and make Delta State not only center of oil and gas investments but manufacturing in Africa.
Roland E. IDIMI (UBIOMOR).
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