Petroleum Africa
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Wednesday, October 8, 2014
The fourth phase of the Onne Oil and Gas Free Trade Zone (OGFTZ) near Port Harcourt was commissioned recently by Nigeria’s President Goodluck Jonathan’s representative VP Namadi Sambo. The free zone has attracted an estimated $8 billion in investments over the years.
OGFTZ currently has 170 companies operating there now.
Phase 4A was built by Integrated Logistics Ltd. (Intels), which acquired the right to operate the Onne Port in 1980 as Nigeria’s first concession experiment. The commissioning was witnessed by the Minister of Transport Idris Umar, his trade and investment counterpart, Olusegun Aganga, the board of trustees’ chairman of the ruling PDP Tony Anenih, and top Federal Government functionaries and company executives.
The president said the successful execution of the project would help push Onne to become a world class seaport and industrial zone, saying it was a huge plus for the transformation agenda of his administration.
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