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To improve the current investment environment in the field of Nigeria's oil and natural gas,, petroleum administration bureau (OGFZA) plans to potential investors for tariff reduction policy, in order to attract more new investors to develop. "

Last week, in the interaction of rivers state port city he meeting, representatives of oil gas mining permit holders have put forward for the country's oil and gas free trade area discussed high tariffs complaints were studied.

Previously, most of the licence holders the industry standard of the implementation of free trade tariffs joint protest, because change tariff standard only NAPIMS, Exxonmobil, shell, Intels, Adax, NOAC, Total and Chevron negotiation and signing, and other investors are unable to participate. They think that impose this tariff standard to every investor is not fair, and called on all sides (including NAPIMS, OGFZA, the IOC has other license holder) combined to formulate new tariff structure, jointly maintain free trade area all the interests of investors.

OGFZA general manager Okon Umana, says Nigeria currently in economic difficulties, for oil and gas free trade tariffs for review in accordance with the current economic environment. Related organizations need to establish a more perfect tariff system in free trade zone, to ensure that investors have lower costs, fewer restrictions. Last month, in OGFZA route in the latest strategy, its investors put forward a series of new incentives to free trade zone, trying to attract more investors to join.

Currently, Nigeria's oil and gas free trade investors enjoy the following preferential tax:

- from federal, state and local government tax;

- avoid corporate tax (the current rate is 30%);

- no VAT (the current tax rate is 5% of the invoice price);

- no capital gains tax (the current rate at 10%, a qualified asset sales profits).

According to the analysis, Nigeria is Opec members, oil reserves in Africa first, it is also one of Africa's largest oil producer. Nigeria is one of the largest global natural gas at the same time. Investment in Nigeria's oil and gas free trade zone will enjoy free of government tax, from corporate tax, exempt from value-added tax, from capital gains tax breaks.