The Oil and Gas Free Zones Authority (OGFZA) is the national regulatory agency superintending over the operation of the oil and gas free trade zones in the country.
It started its operation in 2001 in Onne Oil and Gas Free Zone in Rivers State. Subsequently other oil and gas free zone like Warri, Brass and Ibaka.
This writing obtained from Aziza Nigeria
CUSTOM INCENTIVES (IMPORT AND EXPORT) in Oil and Gas Free Zones Authority Nigeria
- No Form M required for importation into the Free Zone.
- Fast-track cargo clearance procedures (pre-release on placement of bank bond).
- Fast-track air freight cargo movement – international airports to free zones.
- No time limit on cargo storage.
- No custom duty applicable within the free zone.
- No custom duty payable for goods exported from the free zone to other countries.
- No custom duty payable on goods in transit from any part of entry in Nigeria to the Free Zone.
- Goods may be stored indefinitely, sold, exhibited, broken-up, packed, graded, cleaned, marked, loaded, unloaded, reloaded, divided, mixed, separated or otherwise manipulated.
- Goods may be worked, processed or reprocessed or otherwise manipulated or manufactured.
- Goods may be consumed in the Free zone.
- No import or export licenses required.
Business Opportunity in Oil and Gas Free Zones Authority (OGFZA) Nigeria.
CASH FLOW BENEFITS in Oil and Gas Free Zones Authority Nigeria
- Custom duties are paid only when goods are exported to customs territory.
- Reduction in overall project costs.
- A variety of investment opportunities.
- Investor-oriented policies.
TAX-FREE & FINANCIAL INCENTIVES in Oil and Gas Free Zones Authority Nigeria
- Free Zone entity applies for visa to OGFZA attaching applicants C.V., Letter of Employment, Acceptance of Letter of Employment and current Free Zone Certificate of the entity responsible for the applicant and bio-data page of applicant passport.
- The Authority cables a letter to the applicant’s home office (embassy).
- Applicant approves the embassy with a copy of Authority’s letter and S.T.R. Visa issued.
- Visa is regularized on arrival of applicant at the Free Zone by the Free Zone Immigration Unit.
- Expatriates on Free Zone Status must work and reside within the Free Zones only but can attend meetings or/and conferences outside the zones on call time basis.
- No quota regime for expatriate employment.
- Immigration fast track procedure.
IMMIGRATION INCENTIVES in Oil and Gas Free Zones Authority Nigeria
- Immigration fast-track procedure.