OGFZA Secures $24bn Investments, Seeks Tax Waiver for Economic Growth

The Oil and Gas Free Zone Authority (OGFZA) in Nigeria has secured $24 billion in investments, advocating for a tax waiver to exempt operations in special economic zones for 10 years. The Managing Director of OGFZA, Bamanga Usman Jada, made this announcement during a meeting with the Federal Inland Revenue Service (FIRS) in Rivers State.

The initiative aims to drive economic development and create employment opportunities, aligning with global free zone models like Jebel Ali Free Zone in Dubai and Sohar Free Zone in Oman. OGFZA's leadership, including Bola Ahmed Tinubu, is commended for their vision and support for the sector.