OGFZA extends regulatory control to all oil & gas FZS in Nigeria
The Oil and Gas Free Zones Authority (OGFZA) has begun the process of implementing the provisions of its enabling law and federal government’s directives ceding regulatory control of all oil and gas free zones in the country to OGFZA.
In a letter dated November 17 to the managing directors of Lagos Deep Offshore & Logistics Services Limited (LADOL) and Snake Island Integrated Free Zone (SIIFZ), the chief executive officer of OGFZA, Umana Okon Umana, said it had “decided to carry out the full implementation of the law and (federal government) directives,” which vest control of the oil and gas free zones in the country in OGFZA.
Umana informed the managements of both organisations that henceforth, their free zones would be licensed and regulated by OGFZA, by virtue of the statutory provisions in Section 5(2) of the OGFZA Act and other relevant laws, as well as other government directives on the take-over of all oil and gas free zones in Nigeria, which would take 30 days from November 17.
The government White Paper on the Presidential Committee on Restructuring and Rationalisation of Federal Government Parastatals, Commissions and Agencies of March 2014 upheld the autonomy of OGFZA and confirmed the mandate of OGFZA “to regulate Oil and Gas Free Zones in Nigeria.”
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