The Oil and Gas Free Trade Zones Authority has attracted the sum of $16.6 billion foreign direct investment into the economy within a 20 year period covering 2001 and 2020. The Managing Director, OGFZA, Umana Okon Umana, who gave the figure during a chat with news men in Abuja said during the same period, the Authority also attracted over N255 billion naira local investments into the country. He explained that between January and May this year, the sum of N9.41billion was generated as revenue through the free trade zones under his supervision. Speaking on the developmental impact of the agency, Mr. Umana said within the last few years, there has been great improvement in the operations of the free zones. He said the achievement was through dedicated leadership, commitment and exceptional quality of members of staff of the Authority which according to him resulted in the huge interests by both local and foreign investors in the zones. The OGFZA boss further disclosed that the country is currently expecting about N6.1bn investments to materialize in the Liberty Oil and Gas Free Zone under his supervision.
