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Sunday, May 14, 2017
Nigeria’s House of Representatives passed the second reading of a bill for an act to repeal and re-enact the Oil and Gas Free Zone Authority Act. The bill is aimed at liberalizing oil and gas free zones and make the authority more “responsive” to the mandate.
Rep. Emmanuel Orker-Jev, who sponsored the bill, said that currently only the Onne/Ikpokiri free zone are under the existing Act. According to Orker-Jev, the bill seeks to liberalize the zones and “expand the board of the authority and subject the appointment of board chairman to Senate confirmation.”
If the bill is passed, it would make business more transparent, result-oriented and less cumbersome. It will also help to ensure Nigeria’s local content mandates are carried out, according to local press.
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