This improvement of the ease of doing business in Nigeria is very critical to various sectors of the economy particularly the export free zones, for both the specialised and the general-purpose free zones. For oil and gas, there is the Oil and Gas Export Free Zone (OGEFZ), at Onne Port in Port Harcourt, Rivers State. These specialised free zones are very important for the Nigerian economy given that the country’s oil and gas sector is the major source of foreign exchange for its sustenance. If these assertions are true, then the management of these free zones should not lose sight of the underlying reasons for the establishment of the free zone in the first place. Where the companies engage in sharp practices, the management of the free zones should call their attention to them and demand appropriate remediation, as necessary.

Source: The Guardian August 16, 2018 04:30 UTC