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    MarketForces Africa » MarketForces News » Imo Assembly Passes Orashi Special Energy Free Trade Zone Bill

    Imo Assembly Passes Orashi Special Energy Free Trade Zone Bill

    Julius AlagbeBy Julius AlagbeSeptember 11, 2024 News No Comments3 Mins Read
    Imo Assembly Passes Orashi Special Energy Free Trade Zone Bill
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    Imo Assembly Passes Orashi Special Energy Free Trade Zone Bill

    The Imo House of Assembly, on Tuesday, passed three bills, including the Orashi Special Energy Free Trade Zone Establishment Bill.

    The House also passed the Light-up Imo Project Bill and the Establishment of the Commission for the Development of the Oil Producing Areas in Imo Bill.

    The News Agency recalls that the bills scaled through the Second Reading during the House plenary session on September 5.

    The Orashi Special Energy Free Trade Zone Establishment Bill, sponsored by the Deputy Speaker, Mr Amarachi Iwuanyanwu, is intended to facilitate Imo’s industrialisation.

    Also, the Light-up Imo Project Bill, sponsored by the Majority Leader, Mr Kanayo Onyemaechi, is expected to ensure uninterrupted power supply in the state.

    The Establishment of the Commission for the Development of the Oil-producing Areas Bill, sponsored by the Chief Whip, Mr Chigozie Nwaneri, is intended to enhance the development of the oil-producing communities.

    Nwaneri said during the second reading that the bill is to help ensure that funds given to the commission were properly deployed to develop the communities.

    The bills were passed after the House considered the reports of the committees at the Committee of the Whole, chaired by the Speaker, Mr Chike Olemgbe.

    The speaker directed the Clerk, Mrs Chinelo Emeghara, to convey clean copies to the Office of the Governor for his assent. #Imo Assembly Passes Orashi Special Energy Free Trade Zone Bill

    The Imo House of Assembly, on Tuesday, passed three bills, including the Orashi Special Energy Free Trade Zone Establishment Bill.

    The House also passed the Light-up Imo Project Bill and the Establishment of the Commission for the Development of the Oil Producing Areas in Imo Bill.

    The News Agency recalls that the bills scaled through the Second Reading during the House plenary session on September 5.

    The Orashi Special Energy Free Trade Zone Establishment Bill, sponsored by the Deputy Speaker, Mr Amarachi Iwuanyanwu, is intended to facilitate Imo’s industrialisation.

    Also, the Light-up Imo Project Bill, sponsored by the Majority Leader, Mr Kanayo Onyemaechi, is expected to ensure uninterrupted power supply in the state.

    The Establishment of the Commission for the Development of the Oil-producing Areas Bill, sponsored by the Chief Whip, Mr Chigozie Nwaneri, is intended to enhance the development of the oil-producing communities.

    Nwaneri said during the second reading that the bill is to help ensure that funds given to the commission were properly deployed to develop the communities.

    The bills were passed after the House considered the reports of the committees at the Committee of the Whole, chaired by the Speaker, Mr Chike Olemgbe.

    The speaker directed the Clerk, Mrs Chinelo Emeghara, to convey clean copies to the Office of the Governor for his assent.

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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