… Plans Foreign Investment Offices To Attract Potential Oil & Gas Investors
The newly appointed Managing Director of the Oil and Gas Free Zona Authority, Bamanga Jada Usman, on Wednesday officially took over the mantle of leadership at the Authority promising to implement reforms that will enable OGFZA achieve the economic agenda of President Bola Tinubu.
Usman who took over from former MD, Senator Tijanni Kaura, who was removed last week by the President vowed to uniquely position OGFZA to enable it cater predominantly to international clientele through advancements that are tailored to their needs.
To achieve this, he promised to implement his vision for the Authority through seven major strategic approach which according to him will be simple, yet effective.
They are efficiency and trust, infrastructure excellence, regulatory modernisation, local content empowerment, sustainability and resilience, investor focused environment and welfare pf workers.
He also vowed to introduce offshore banking services, ensuring seamless, 24/7 international financial transactions that would further cement OGFZA position as a key global player in the industry
Usman said, “Aligned with President Tinubu’s ambitious economic agenda, I envisage expansive future for OGFZA. It is my firm intent to champion the establishment Oil and Gas Free Zones in every state of our great nation, both oil-producing a non-oil-producing.
“This expansion aims to offer more investment avenue considering some of our current zones that face saturation from limited opportunities for fresh activities.
“Our unique positioning in the oil and gas sector, catering predominantly to international clientele, warrants advancements tailored to their needs.
“Recognizing this, I am committed to introducing offshore banking services, ensuring seamless, 24/7 international financial transactions, further cementing our position as a key global player in the industry.
“Having stood strong for over two decades as the sole Oil and Gas Free Zone beaconing across the West African coast and Gulf of Guinea, the time is ripe for OGFZA to undergo a transformative rebranding.
“This is not merely a cosmetic change but a strategic move to resonate with our multinational stakeholders and reflect our global ambitions.
“A pivotal aspect of this rebranding will be the establishment of foreign investment offices overseas, ensuring that potential investors have immediate access to us, and fostering smoother coordination and correspondence.”
In the area of efficiency, he said that OGFZA, under his leadership, will commit to transforming the Oil and Gas Free Zones into economic catalysts by streamlining processes, promoting transparency, and reducing bureaucracy.
“Our goal is to instill trust, attract investments, and contribute to Nigeria’s GDP by ensuring operational efficiency.
“We will commit to elevating our infrastructure to international standards, working alongside stakeholders.
“Addressing existing challenges, such as deteriorating roads and inconsistent power supply, is paramount to fortifying Nigeria’s global industrial stance and resilience against economic upheavals,” he added.
In the area of regulatory modernization, Usman noted that under his guidance, OGFZA will commit to revisiting and updating the regulatory framework to resonate with the evolving industry needs, ensuring alignment with global best practices.
On his vision for local content empowerment, the OGFZA Boss said, “In adherence to the Nigerian Content Act, we edge our unwavering commitment to promote local content across the value chain.
“Our focus remains on technology transfer, skills acquisition, and bolstering local businesses, thereby amplifying the nation’s talent pool and benefits.
“As stewards of the environment and local communities, we will commit to a growth path that balances industry advancements with ecological mindfulness. In alignment with the President’s economic vision, we pledge to cultivate a production-based economy resilient to global uncertainties.
“We will dedicate ourselves to fostering an environment conducive to investors, simplifying business operations within our zones.
“Recognizing Nigeria’s potential in gas reserves, we pledge to capitalize on this resource, anchoring our free zones as hubs for refining, utilization, and development in line with Nigeria’s energy transition goals.”
On staff welfare, the OGFZA Boss assured workers that he will commit to prioritizing their welfare.
“I will be open to suggestions on improvement of our processes and procedures, and I charge you to respond positively to changes as we seek to reposition the Authority for more efficient performance. In the coming days.
“OGFZA’s journey forward will be one of collaboration, innovation, and dedication. With your unwavering support, we will carve a stronger path that future OGFZA will tread upon with pride, ” he added.
Earlier, the former MD in his brief remarks at the event described the new MD as a humble, vibrant and very committed man.
Kaura said, “I congratulate you on your appointment. I wish you God’s guidance. OGFZA is an important agency of government. I will like to say that the challenges the MD is taking from today is a daunting one but I am confident he will lead the agency to greater heights.
“I pray for you to succeed and I call on my staff that I worked with in the last 14 months to extend the support you gave me to the new MD so that together, we can achieve the objective set for this agency by government.”