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FG inaugurates Committee for 2014 Oil and Gas Investment Forum

By BusinessNews Staff on April 29, 2014

The Minister of State for Industry, Trade and Investment, Dr. Samuel Ortom, who inaugurated the committee in Abuja, stressed that the federal government would support the promotion of the Onne Oil and Gas Free Zone Authority as the gateway for the oil and gas industry in Africa.

He noted, in particular, that the past two editions of the Oil and Gas Trade and Investment Forum were highly successful, noting that the Federal Government was committed to consolidating on the success achieved so far in the interest of the Nigerian economy.

The minister stated that the 2013 Oil and Gas Trade and Investment Forum recorded over 2500 participants, 100 exhibitors and over 500 investment enquiries received by both the Ministry and Oil and Gas Free Zone Authority.

“I am particularly happy that last year’s edition of the forum was a huge success and I am proud of the achievement of the Ministry’s organising committee and Orlean Invest West Africa Limited,” Ortom said.

He noted that the Onne Oil and Gas Free Zone Authority was structured and designed to address specific needs and requirements of the corporate bodies in the oil and gas industry.

“Onne Oil and Gas Free Zone was established as a tax free centre for processing of goods that encourage acquisition of skills, job creation, transfer of technology, local content participation, enhanced foreign exchange earnings and backward integration in the country,” he noted.

He charged the organising committee to work hard to ensure that this year’s forum “records better success in terms of attracting more domestic and foreign investment into the sector.”

Among the terms of references given to the committee are to organise a two-day trade and investment forum on Oil and Gas from October 30-31, 2014; to showcase Onne Oil and Gas Free Trade Zone as a successful free trade zone in Nigeria; mobilise relevant stakeholders, public and private sector investors (local and foreign) for the forum as well as monitor and follow-up the outcomes of the forum.

Members of the Organising Committee were drawn from the Federal Ministry of Industry, Trade and Investment, Ministry of Petroleum, Ministry of Transport, Ministry of Niger Delta Affairs, Orleans Invest West Africa, Nigeria National Petroleum Corporation and Nigeria Port Authority. Others were Oil and Gas Free Zone Authority, Nigeria Export Processing Zones Authority, Nigeria Investment Promotion Commission, Nigeria Customs Service and Nigeria Immigration Service.

[This Day]

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