Bill On Oil, Gas Export Free Zone Scales Second Reading In Senate

Source: thewillnigeria.com

…Biosafety Management Agency Also
SAN FRANCISCO, July 09, (THEWILL) - A Bill, which seeks to amend the Oil and Gas Export Free Zone Authority Act to make consequential provisions to the Act for greater effectiveness and efficiency, scaled the crucial second reading at the floor of the Senate on Wednesday.

Also, the senators pushed through the Bill seeking to establish the National Bio-Safety Management Agency (NBMA) beyond the second reading.

The Export Free Zone bill was subsequently referred to the committee on Trade and Establishment for further legislative work

The Bill which was sponsored by Senator Odion Ugbesia also seeks the introduction of the right of workers in the zone to join trade union and bargain collectively which the principal Act abridged since inception of the free zones

He stated that free zones all over the world are instrumental in boosting industrial and economic growths, a result of which the Federal Government established the Onne Oil and Gas Free Zones to among other things provides greater level of foreign direct investment, technology transfer, manpower development, provision of employment opportunities and greater economic self reliance.

“Our free trade zones are far from achieving the purpose for which they were established and there are serious doubt as to whether Nigeria has indeed benefitted from the Onne Oil and Gas Free Zone beyond the benefit accruable to an industrial area which is the result of weak regulatory framework guiding the operations of free zones in Nigeria,” he told the Senators at Wednesday's plenary.

He further explained that the most attractive feature of a free zone anywhere in the world is the tax holiday which investors enjoy as incentive and encouragement for investment, saying this amendment provides just that.

Meanwhile, the Biosafety Agency Bill seeks to address the National Bio-safety requirements and regulate the practice of modern biotechnology and Genetically Modified Organisms (GMO) to ensure safety to the environment and human health.

In a lead debate, sponsor of the Bill, Sen. Domingo Obende (APC-Edo), said the Bill would apply to safety administration of any activity of importing, exporting of Genetically Modified Objects and the products derived into and out of the country.

He noted that the absence of Bio-safety law had hampered research and development in modern biotechnology in Nigeria.

“A Bio-safety law will, therefore, enable our research institutes to carry out their statutory functions.

“The Bio-safety Bill will address issues concerning food security, health issues, diagnostic, and environmental problems like desertification, soil erosion etc,” he explained.

EMMA UCHE, ABUJA.