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Sunday, May 28, 2023

Imo Orashi Oil and Gas Free Trade Zone Great Opportunity For Business

Following the flag-off of the Orashi Oil and Gas Free Zone in Imo State, SA New and Electronic Media to Imo State Governor Mrs. Nneamaka Okafor wrote in this report urging the business minded to embrace it.

By Nneamaka Okafor

The era of Imo as the economic hub, East of the Niger is here as the State is set to experience further economic boost with the proposed Orashi Oil and Gas Free Trade Zone in the State.

A free trade zone entails less restriction, less taxation and as such, no limitation to business activities that will rise to economic limelight, improved revenue and greater development across the region and the State. This comes with great job opportunities for the Imo State population and will surely open up new economic ventures.

This is the brewing expectations as the Shared Prosperity administration of His Excellency Distinguished Senator Hope Uzodimma, seeks to create an Oil and Gas Free Trade Zone across Oguta, Ohaji/Egbema and Ngor Okpala Local Government Areas.

The Orashi Oil and Gas Free Trade Zone, has already been flagged off with the dredging of the Oguta Lake and Orashi Waterwayson Thursday by Vice President Prof. Yemi Osinbajo.

Vice President Yemi Osinbajo about to cut the tape.

It will give rise to multiple industrial ventures with multiplying effects on su-bsectors.

Beyond the geographical benefits of dredging the waterways, there is a bigger economic turnaround and venture for the State, the region and the nation at large as well as for Multinationals and a large number of in-corporations established around the region and the State for diverse economic and commercial activities.

Oh yeah! One may wonder how the Government intends to handle the resulting effects of gas flaring. But with gas gathering, collation and processing centers, these are eliminated to guarantee a clean and healthy environment.

It is expected to have sufficient depth to berth small to medium size vessels, and provide an evacuation corridor for gas and other products processed and /or produced with the Oil & Gas Free Trade Zone for sale to neighboring states as well as export purposes.

I am full of enthusiasm for businesses that will spring up, in the region and the State, with the establishment of the Orashi Oil and Gas Free Trade Zone.

I encourage my Imo people, as business-minded as we are, to key into this great opportunity and harvest bountifully.


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