The Federal Government has been commended for “finally restoring sanity” in Nigeria’s Free Zones sector.
Edward Alibo, a stakeholder in the nation’s Free Zones, in a statement forwarded to PREMIUM TIMES, Friday, said the “permanent removal” of the rivalry between theand the Oil and Gas Free Zones Authority has shored up investors’ confidence and would help boost the nation’s economy.
The justice minister gave his interpretation of the provisions of the Nigeria Export Processing Zones Act Cap No 107, LFN 2004 and the Oil and Gas Export Free Zone Act Cap 05 LFN 2010 as to which government agency has oversight responsibility over oil and gas Free Zones in Nigeria in September 2019. These persons parade themselves as Free Zone stakeholders not minding the immoral, irregular and questionable manner by which they joined the services of the same Companies that they had facilitated their Free Zone approvals while in Government.
These persons with doubtful loyalty to the nation, committed even worse kinds of sabotage against the Federal Government of Nigeria when they went as far as misusing their official positions in government at the time, to set up structures that weakened NEPZA as a bonafide government regulator and almost brought the Agency to its knees.
Meanwhile, the “arrangement” they set up has completely incapacitated NEPZA to the point that the Regulator can hardly sanction any erring Private Free Zone Operator, because these super Free Zone Management Companies, who most often than not, act like untamable shylocks, are the ones running the show by themselves in those Free Zones. The cases of LADOL vs Samsung and LADOL vs Africoat readily come to mind.
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