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Eleme National Anthem

Eleme National Anthem. (Êsôn Eta Eleme). Nnô B’Eta Eleme. Nnô b’  ta Eleme Nyime E ta r  bai Afiamuru bî nmasên Eleme Oku nsênwinne Bârâ oku Ekpo so, soo … Naî mr  dal’Eleme ebo. Refrain. D ã m ô Eleme chuî Nne mpio, suêi ntito Chui ajuri ad Namai ntito Obari.

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Eleme National Anthem

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  1. Eleme National Anthem (Êsôn Eta Eleme)

  2. Nnô B’Eta Eleme Nnôb’ta Eleme NyimeEta r bai Afiamurubînmasên Eleme Oku nsênwinne BârâokuEkpo so, soo… Naîmr dal’Elemeebo.

  3. Refrain Dãmô Eleme chuî Nne mpio, suêi ntito Chui ajuri ad Namai ntito Obari

  4. ObariKanee Nyimeta Eleme Afia, mûrûbî Nmasê Eleme ObariKanee Nyimeta Eleme Afia, mûrûbî Nmasê Eleme

  5. Welcome to 2012 Convention of OFALARU ELEME USA in Arlington Virginia,United States of America, 13th – 15th July, 2012.

  6. The Impact of Oil and Gas Free Zone on Eleme Community. By Eld. John Abbey (HOD, Marketing & Media) A Presentation on

  7. I n t r o d u c t i o n • Free Zone Concept • OGFZA Role and Achievements • Variation of Free Zone • Factors Influencing Success or Failure • Free Zone as a Catalyst for Economic Growth • Oil and Gas Free Zone as a Panacea for Nigeria Immediate Problem. • Vision/The Way Forward • Conclusion

  8. Definition of a Free Zone By definition, Free Zone is described as a designated enclave or a geographical territory within a country which is administratively deemed to be outside the custom area, within which national regulations related to trade, finance and other economic activities may not be applicable or partially applicable.

  9. Formation of Oil and Gas Free Zone and Oil and Gas Free Zone Authority • Established by Act No. 8 of March 29, 1996, establishing OGFZ and OGFZA at Onne/Ikpokiri (Rivers State). • Responsible for all Oil and Gas functions as they relate to free zone (section 5(2) OGFZA Act). “The Authority shall have power to take over and perform such other functions being hitherto performed by NEPZA as they relate to the export of oil and gas from any of the NEPZA established Free Trade Zones by the NEPZ Act 1992”

  10. Government Objective for OGFZ • Attracting Foreign Direct Investment (FDI) • Capital Growth • Employment Opportunity • Skill Acquisition • Revenue Generation • Increase Export • Trade Facilitation and Support • Industry Diversification (Primary Industry, attracts secondary industries which supports its operations). • Promote Foreign Exchange Earnings • Acts as hub for sub-Saharan African Region

  11. Ingredients of the Free Zone • Incentive • Use of Area of Comparative Advantage • Strong Infrastructural Base • Consistency of Policy/Strong Legal Framework • Clear and unambiguous Government Intentions.

  12. INCENTIVES • Tax Breaks. • 100% repatriation of capital investment. • 100% remittance of profits & dividends. • No import or export licenses required. • 100% of free zone goods can be sold in Nigeria. • 100% foreign ownership of business allowed. • Duty free stock (equipment, spare parts, pipes). • Immigration incentives • 75% duty rebate etc.

  13. Use of Area of Comparative Advantage • A country’s assets best represents their area of comparative advantage. • Most countries globally have capitalised on using their areas of comparative advantage in setting up zones. • Examples include Nigeria focusing on oil and gas, South Africa, Mauritius and Kenya with free zones focusing on Textiles – a primary agricultural product: Kenya additionally has free zones focus on tourism etc. • Several counries including India, Ireland, Malaysia etc have applied the Free Zone Concept to initiatives that take advantage of an available, quality labour force. • Setting up any successful free zone initiative is a well thought out and strategic process stating objectives and plan on how to achieve these objectives.

  14. Strong Infrastructural Base • Power • Telecommunications • Roads • Etc.

  15. Consistency of Policy/Strong Legal Frame Work. • Investor confidence is paramount in the attraction of FDI, therefore consistency in policy is important. • Strong legal framework is a prerequisite for consistency in policy. • Therefore the role of legislation can not be overemphasized. • Clear and unambiguous government intention.

  16. OGFZA Role • Free Zone Management role in Free Zone growth • Promotion/Marketing Investment Drive • Indentifying relevant industries/businesses in line with the Free Zone objectives. • Opening negotiation in a bid to have them located at specified Free Zone. • Administration • Ensure Free Zone advantage/priviledges reach each client in the zone. • Interface between Free Zone clients and other government agencies • Security • Resolution of disputes • Liaison between investors and community.

  17. ACHIEVEMNTS SO FAR • OGFZ has placed Nigeria as a leading player in oil and gas activities in the whole of sub-Saharan Africa. • From inception to date, the Free Zone has attracted more than 150 companies into Nigeria with investment portfolio of more than $5billion. • It is on records that investment inflow into the free zones represents about 60% of total investment into Nigeria within the last 9 years. • The financial times of London Magazine on FDI regards the OGFZ Onne as one of the most successful zones in Africa • The OGFZ at Onne has attracted all major oil companies in the area and are now using the free zone as a hub for their activities covering the whole Gulf of Guinea up to Angola and Southern Africa.

  18. ACHIEVEMNTS SO FAR (cont.) • The attraction of these investment into the country has created over 30,000 direct or indirect jobs. • There has been transfer of technology to Nigerians, though manpower training, particularly due to specialised nature of their operations. For example Tenaris which is the largest pipe producing company in the world has trained over seventy Nigerians overseas on pipe technology and many more companies do similar. • The presence of the Free Zones has increased economic activities in the area as the Onne Port is second highest port in Nigeria after Apapa. • As a result of the Free Zone at Onne, there has been an increase in government revenue earning particularly for Customs, Port Authority and Federal Inland Revenue Service.

  19. Specific Impacts of the Free Zone on Eleme Community. • Employment Generation (both direct and indirect, Skilled and Unskilled). • Wealth Creation via Contract Services/Supplies • Corporate Social Responsibility of Companies to Host Community via Provision of Roads, Water, Light and Environmental Friendly Activities. • Creation of social and economic relationship with nationals of other Countries of the world in a global village effect. • Although there are no verifiable statistics on employment and wealth creation but it is an established fact that the creation of Oil and Gas Free Zone Onne has impacted more positively on the economy and general life style of not only the people of Eleme but other surrounding communities in Rivers State in particular and Nigeria at large.

  20. Variation of Free Zones • Free Ports. • Special Economic Zones. • Export Processing Zones. • Single Factory Export Processing Zones. • Free Trade Zones. • Specialised Zones. Government use any of the various schemes listed above/precisely or mix of them, to attain the objectives for economic growth and development (considering the country’s area of comparative advantage).

  21. FACTORS INFLUENCING SUCCESS OR FAILURE OF FREE TRADE CONCEPT • Leverage on the comparative advantage a nation possesses within the global economy when setting up any free zone initiative. • Policy and legal framework • a strong, sound legal and regulatory frame work is crucial. • Consistency in policy required for investor confidence as Free Zone projects are typically long term.

  22. FACTORS INFLUENCING SUCCESS OR FAILURE OF FREE TRADE CONCEPT (cont) • Government support for the project. • Host Community Stability • Ease of doing business • Availability of quality infrastructure.

  23. THERE IS NO DEVELOPMENTWITHOUTINVESTMENT Free Zone as a Catalyst for Economic Growth and Development

  24. Investments provide jobs and contribute significantly to economic growth and development. • Provides a needed platform for industrialisation • Technology transfer, skill acquisition, capital growth, use of local raw materials. • Government meeting all your demands for job opportunities is a myth. • Every Nation need investments to grow and prosper. • The most developed Nations are always in competition to ensure inward investment flow.

  25. Republic of Ireland • Singapore • Turkey • UAE (Dubai) • Malaysia • China • India Nations that have employed Free Zone Concepts for Economic Growth

  26. Population - 4,460,000 • GDP 2008 - $226 billion • GDP per capita - $51,128 • Total Land Area - 27,133 sqkm. Republic of Ireland

  27. Population - 4.49 million • (2009 Statistics) • GDP 2008 - $239 billion • GDP per capita - $209,128 • Total Land Area - 2006 $51,226 • (Highest in the World) SingaporeEconomic Growth

  28. Trillion dollar economy • Stable currency – Rupee becoming stronger • 9.4 % GDP growth • Per capita Income Rs. 29382 • Life expectancy - 65 years • Foreign exchange reserves – over $ 200 billion • Literacy rate - > 67% • 25% growth on IT Sector exports • Potential R & D hub • Fastest growing outsourcing Industry India: Economic Growth

  29. Independence - 1957 Natural resources – oil, gas, tin, timber, rubber, palm oil. GDP growth – 5.8% Export of manufactured goods – 76.7% of total exports Adopted a New Economic Policy utilizing Free Zone concept in 1982. Aspiring to be First World Nation by 2020. Malaysia: Economic Growth

  30. The growth of customs-supervised zones in China is the significant part of China’s economic development. • In 2006, the total import & export values accomplished by free zones, export processing zones and bonded logistics zones in China amounted to US$205.26 billion, with per area import & export volumes touched US$2.57 billion. There are 724,800 personnel being employed. They have grown to be the most active areas in terms of foreign trade. • One of the most successful SEZ – Shenzhen of China (1980s) has developed from a small village into a city with a population of over 10 million within 20 years. • GDP annual growth rate exceeding 10%. In 2006, China’s GDP ranked the fourth in the world, and the import & export values reaching US$1760 billion, ranking the third globally. China Economic Growth

  31. According to the International Monetary Fund (IMF) and the Bank for International Settlements: • the UAE economy now ranks the second largest economy in the Arab region, larger than that of either Egypt or Algeria. • Only the gross domestic product (GDP) of Saudi Arabia outweighs that of the UAE. • Diversified economy to diminish reliance on oil revenue. • Has developed into region’s Premier International Business Centre. • Serves as the biggest re-exporting exporting centre in the Middle East. • Third largest export & re-export centre after Hong Kong & Singapore. • Three highly successful, specialized Free Zones of international distinction. • Success of Jabel Ali Free Zone (hosts largest man-made port) allowed the city to replicate its model to develop clusters of new Free Zones. • In more recent years, they have become a major venue for a number of growing, profitable industries & activities such as meetings, conferences, exhibitions, tourism, banking, finance, Industrial Consultation, information & communication technology, light & medium manufacturing. • GDP 2006: USD 46 billion • Economy built on the back of oil & gas but currently oil & gas accounts for less than 3% of the Emirates revenue. • Increasingly developing as a hub for service industries such as IT & Finance with the establishment of a new Dubai International Financial Centre (DIFC). • Government has set up industry specific free zones throughout the city including Electronic Commerce & Media Free Zone Authority which houses IT firms such as Oracle Corporation, Microsoft, IBM & Media firms such as CNN, Reuters, MBC. United Arab Emirates (Dubai): Economic Growth

  32. Oil and Gas Free Zones as a Panacea for Some of Nigeria’s Challenges. • A visit to Oil and Gas Free Zone in Onne will convince skeptics that the Free Zone can help resolve some of our immediate problems. • Over 150 companies currently do business in Free Zone. • Over 30,000 people are employed directly and indirectly by the activities of these companies. • It is the only Free Zone fully dedicated to oil and gas industry. • Combine the effectiveness of private sector with support of the Federal Government. • It is designed to maximize the comparative advantage of Nigeria to attract FDI in the oil and gas sector • It is also a launching pad for growth in other sectors of the Economy.

  33. Continued • It is today recognised as key incubator of the Nigerian content policy. • It is therefore a solution to some of the most pressing problems of Nigeria today. • As a country of over 150million with institutions graduating over 200,000 youths annually who are thrown into job market it is important that measures are taken to create jobs for these teaming youths. • The Free Zone concept as applied to oil and gas one of these measures.

  34. The WayFOWARD

  35. T H E V I S I O N • Ikpokiri Island as a Giant Industrial City • The State new industrial base. • A one-stop-shop location comprising industrial and factories, offices, conference location/submit centres. • Providing linkages from Oil and Gas to other sectors of industry. • Support the thriving of small and medium sized enterprises. • Hotel services.

  36. The Vision (cont.) • Residential Facilities • Sports Centre • Shopping Malls • Offshore Banking

  37. The Way Forward Ikpokiri Island

  38. Thank you for your attention

  39. (Êsôn Eta Eleme) Eleme National Anthem

  40. NnôB’Eta Eleme Nnôb’ta Eleme NyimeEta r bai Afiamurubînmasên Eleme Oku nsênwinne BârâokuEkpo so, soo… Naîmr dal’Elemeebo.

  41. Refrain Dãmô Eleme chuî Nne mpio, suêi ntito Chui ajuri ad Namai ntito Obari

  42. Obari Kanee Nyime ta Eleme Afia, mûrû bî Nmasê Eleme Obari Kanee Nyime ta Eleme Afia, mûrû bî Nmasê Eleme

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