About 16 Companies plan to Exit Onne Free Trade Zone in Rivers state

Among others affected companies includes; PRODECO International Limited, West Africa Machinery Services Limited, Net Global System International Limited, MGM Logistics Solutions Limited, and ORIEAN Investment Limited.

About 16 Companies plan to Exit Onne Free Trade Zone in Rivers state
About 16 Companies to Exit Onne Free Trade Zone/ Photo credit: Dailyherald
Some firms operating in Onne Free Trade Zone in Rivers state have disclosed plans to exit the place due to alleged Government policies that does not favors their operations.

From the information we gathered, about 16 companies operating in the zone have started making moves to vacate the place.

We also learnt that these companies were part of the 6 firms the Minister of Interior, Abdulrahman Dambazua ordered to leave the country on or before November 30, 2017, for operating within the country, without valid license from the Oil and Gas Free Zones Authority (OGFZA).

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An oil and gas industry expert, Austin Obieze had allegedly said that the attack by OGFZA against INTELS has generated panic among other firms operating in the zone.

According to Obieze;” It was a very bad move by OGFZA, which was set up to promote trade and attract investors into the country through the oil and gas free zones concept, OGFZA, under Umana Okon Umana, doing the direct opposite of what it was established to do.”

Among others affected companies includes; PRODECO International Limited, West Africa Machinery Services Limited, Net Global System International Limited, MGM Logistics Solutions Limited, and ORIEAN Investment Limited.

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Again, the General Manager of Finance, Lagos Channel Management Company Limited, Joseph Amoni, has amid other persons who complained, said that the development is capable of causing foreign investors not to come to Nigeria for businesses.

However, INTELS  co-owner, Gabrielle Voltpi had apologized to the Authority and promised to comply with the Federal Government.

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