Axxela Limited and Freezone Global Investment Ltd Partner to Drive Over $1B Investments Into Oil and Gas Free Zones

By June 27, 2019 Investment News

Axxela Ltd has signed a partnership agreement with Freezone Global Investment Ltd (FZGIL), the Special Purpose Vehicle (SPV) of the Oil and Gas Free Zones Authority (OGFZA).

The agreement which is aimed at providing gas infrastructure solutions to oil and gas free zones is anticipated to attract over $1B worth of businesses into Ikpokiri Greenfield Zone in Rivers State.

Speaking on the significance of the partnership, FZGIL GM/COO, Mrs Cynthia Eguridu noted that the signing of the agreement would spur up activities in Ikpokiri Island which is envisioned to be a world-class energy and gas city.

Mr. Umana Okon Umana, FZGIL Board Chairman and OGFZA MD/CEO applauded the SPV milestone, he told the group, “there is no way the Authority can effectively manage its free zones without providing investors with access to gas and energy at business friendly costs”

Axxela CEO, Mr. Bolaji Osunsanyaexpressed same optimism at the signing “Once you can show your clients that you can provide their energy needs, then you are on your way to success”, he said.

Present to witness the signing ceremony was a team from PwC led by a Partner, Mr Cyril Azobu and some OGFZA senior officials.


Source: Oil & Gas Free Zones Authority Nigeria