Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • About
    • Advertise
    • Contribute
    • Donate
    • Forum
    • Contact
    Login
    InfoStride NewsInfoStride News
    • Home
    • Business
    • Celebrity
    • Crime
    • Nigeria
    • Politics
    • Sports
    • Technology
    • More
      • COVID-19
      • Editor’s Picks
      • Health
      • Opinions
      • Press Releases
      • World
    Subscribe
    InfoStride NewsInfoStride News
    Home»Business Matters»$16.6 billion FDI was attracted by the Oil and Gas Free Trade Zones Authority in 20 years

    $16.6 billion FDI was attracted by the Oil and Gas Free Trade Zones Authority in 20 years

    Business Matters By Temitope N.Sep 7, 2021No Comments2 Mins Read
    Facebook Twitter WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

    The revenue showed that N2.1 billion was generated in January, while February, March, April and May had N1.45 billion, N4.39 billion, N1 billion and N453.98 million respectively,” Umana said.

    Dr Umana
    Dr Umana

    He added that efficient services delivery on the operational side of running the free trade zones had greatly improved through dedicated leadership as well as the commitment and exceptional quality of members of staff of the Authority, and that N6.1 billion worth of investments were expected to materialise in the Liberty Oil and Gas Free Zone.

    “To grow investment also meant looking at the structures within our zones because as I said, you can only attract FDI if you are globally competitive.

    We took a number of steps, we reviewed our standard of operation, we came out with timeline for delivery of our services.

    See also  Diesel price rises above N400/litre in Lagos

    “For example, in the past we did not have a specific timeline for renewal of license or to reissue new licenses or even to process cargos.

    “We came up with specific timelines – we say for example that we will take only 48 hours to clear cargos, if the cargos where consigned in Free Zones,” he said.

    He added that it would take seven days to renew a license with all the requirements met, and it would take 21 days to issue a new license and with all the requirements met.

    He stated that between 2005 and 2015, the authority created 40,508 direct and indirect jobs with a conservative estimate at about 160,000.

    See also  Oba Of Benin Should Help Us Secure Oil Pipelines - NNPC

     

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

    FDI Gas Oil
    Share. Facebook Twitter WhatsApp Pinterest Reddit Tumblr VKontakte Email LinkedIn

    Related Posts

    Five Ways To Analyze The Forex Market

    Dec 22, 2022

    Why FG is investigating Mikano, Jubali Brothers, JMG over generator importation

    Dec 15, 2022

    Food Inflation: Average price of tomato rises 30% in one year – NBS

    Oct 28, 2022

    Governors warn that CBN’s proposed loan recovery from FAAC revenue is “suicidal”

    Oct 22, 2022
    Add A Comment

    Leave A Reply Cancel Reply

    Get Social with Us
    • Facebook
    • Twitter 6.5K
    • Pinterest 93
    • Instagram
    • YouTube
    Latest Posts

    Josh Babybrother Wade Took Over My Accounts In The Past – Empress Njamah

    Feb 4, 2023

    I Don’t Understand Liverpool’s Decline – Alisson

    Feb 4, 2023

    I Won’t Forget How God Saved Me And My Husband From That Plane Crash – Dolapo Osinbajo

    Feb 4, 2023

    MUFC Players Had To Defend Antony – Erik Ten Hag

    Feb 4, 2023

    Subscribe to Updates

    Get the latest breaking news straight into your inbox!

    Random News

    US, Ukraine Share Special Relations, Says Zelensky After Call With Biden

    Jan 3, 2022

    Manchester United Must Stay Together – Ole Gunnar Solskjaer

    Jan 27, 2020

    APC Crisis: Akpanudoedehe Adamant, Denies Resigning As Secretary

    Mar 8, 2022

    Nigeria Shouldn’t Spend $6bn A Year To Import Petroleum Products – Obaseki

    May 2, 2019

    InfoStride News delivers the latest breaking news, Nigeria news, world news and top stories on business, celebrity, entertainment, politics, sports, technology and more. Experience the best of in-depth coverage, special reports, football highlights, political opinions, crime watch, celebrity gossips etc.

    GooglePlay Store Button

    Support InfoStride News' Credible Journalism

    Credible journalism involves a lot of efforts and money; and can guarantee a fair, accountable and transparent society, including democracy and government. We need your support to continue offering free access to our loyal readers and visitors like you.

    Click here to Donate

    Facebook Twitter Instagram Pinterest YouTube Tumblr LinkedIn RSS
    • Our Terms
    © 2023 InfoStride News. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.

    Sign In or Register

    Welcome Back!

    Login to your account below.

    Continue with Facebook
    Continue with Google
    Continue with Twitter
    Lost password?