OK Free Trade Zone and Deep Sea Port  

  The OK Free Trade Zone is a collaborative venture of Ogun and Ondo States in Southwest Nigeria . It is conceptualized in line with the shared vision of the States to expand the economic base of the two States through the promotion of rapid industrialization and facilitation of commerce in the sub-region.

  The Free Trade Zone is a 20,000 hectares industrial enclave, designed to facilitate the establishment of export-oriented industries through the administration of Special Regulatory and Fiscal Incentives which permit freedom of operation at global competitive levels. It is proposed to integrate a Multi-Purpose Deep Sea Port Complex and Free Trade Zone.

  The Project focuses on promoting International Trade, Transit Trade, Bonded Storage and Export processing as well as other ancillary businesses including Banking, Offshore Finance, Insurance, Futures Market, Commodity Exchange, Wharf Management, Haulage, Forex Operations, IT and other related businesses.

VISION

  To be the Free Zone of Choice in the West Africa sub-region that provides investors with an

unmatchable business ambience.

  MISSION  

To provide World-Class, State of the Art facilities, highly attractive incentives and focused business support Services in a safe and conducive environment that offers opportunities for all Stakeholders to flourish.  

PROJECT INCENTIVES

The Project will take advantage of the various Fiscal and Other Incentives put together for the benefit of Companies that will be cited in this Zone

  •  Exemption from Company Income Tax

•  Exemption from Value-Added and Sales Tax

•  Exemption from all Federal, State and Local Taxes and Levies

•  Duty Free import of Raw Material and components

•  Duty free import of Equipment and Machinery and Spares

•  No exchange controls and restriction of Foreign Capital transaction including repatriation of Foreign Capital Investment with Capital appreciation

•  No restriction on expatriate staff etc.

PROJECT LOCATION/ MAP

The Project sits on the Atlantic coastline areas of Ogun and Ondo States , 45km east of Lekki in Lagos ( where the headquarters of most of the Major Oil and Gas companies are situated) and 400km West of Port Harcourt (Onne), almost in the heart of the offshore Oil Block belt.

FACILITIES ENVISAGED IN THE ZONE

The zone will have space allotment for:

•  1750 linear meter quay

•  Bonded storage Warehouses

•  Oil and Gas processing zone for LNG/LPG Plants, Refineries and Petrochemicals, etc.

•  Manufacturing/ Assembly area

•  Fabrication/ Machine tools and Equipment area.

•  Airstrip

•  Helipad

•  Residential and Recreational area

•  Multipurpose Port complex, complete with breakwater inland harbour, including other structures required to provide protection against swell from the Atlantic Ocean

PROJECT BENEFITS  

Economic prospects of the project include:

•  Infrastructural development

•  Creation of employment opportunities.

•  Revenue Generation for the State.

•  Catalyze the Industrial drive of the State.

•  Broaden the economic base of the State

•  Attract foreign inflow of Investment

•  Create opportunity for Human Capital Development

•  Harness the untapped resources of the State

DEVELOPMENT UPDATE

•  Public Notice on acquisition of 22, 500 ha

•  Ogun and Ondo States signed MOU

•  OK Free Trade Zone company registered by NEPZA

•  First Order Control Points established

•  Project Management agreement signed with NEPZA

•  Topographical maps produced

•  Delineation and Perimeter survey commenced

•  Environmental Baseline data initiated

•  People and Property counting commenced

•  Conceptual Master Plan developed

•  Infrastructural development commenced

•  Resettlement sites for affected people identified

•  New Investors showing interest

•  MOU signed between OKFTZC, NEPZA and OKLNG

•  Perimeter survey commenced

•  Conceptual Master Plan developed

•  Master Plan development in progress

•  Consultation with the Community strengthened

•  Community Development Associations established

INVESTMENT OPPORTUNITIES:

•  Deep Sea Port Development

•  Bonded Storage Warehouses

•  LNG/LPG Plants

•  Refineries and Petrochemical Companies.

•  Manufacturing / Assembly Companies

•  Machine tools and Equipment Fabrication Companies.

•  Airstrip Development

•  Helipad Development

•  Logistic Companies

•  Service Companies

•  Export Oriented Companies

•  Residential and Recreational Area Development

The first Major Tenant in the Zone is the Multi-Billion Dollar OK Liquefied Natural Gas Company – a 4-Train LNG Plant that is reputed to become the largest in Africa upon completion.

The company is a joint venture between the Nigerian National Petroleum Corporation (NNPC), Chevron, British Gas and Shell Corporations.

The company has commenced the construction of its pioneer camp from where all other developmental activities will be coordinated. The company has also initiated the Influx Management Plan, Environmental Safety and Health impact assessment Plan, Resettlement and Compensation Plan, as part of efforts towards finalizing their FDI.

OTHER COMPANIES EXPECTED IN THE ZONE

Oil and Gas Companies

Refineries

Fertilizer Producing Companies

Distilleries

Breweries

Banks and Financial Institutions

Hospitality Service providers

Pharmaceutical Companies

Real Estate Development Companies

Logistic Companies

Steel and Fabrication Companies

Entertainment Companies

Shopping Malls

Other Light and Heavy Industrial Companies