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We use our charges to maintain Zone- LADOL

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By Ediri Ejoh

THE management of Lagos Deep Offshore Logistics (LADOL) has explained that its charges are essential to enable it maintain the zones.

Addressing journalists to refute media reports for imposing one percent Free on Board (FOB) charges in Lagos, Managing Director, LADOL, Amy Jadesinmi, said: “All charges are mandated by the federal government policy which is within a transparent frame work. No company operating in the LADOL free zone have been charged with charges not mandated by the government.

“It is wrong to calculate the value of the one percent management fee in the contract when the project had not yet left the free zone. This is not a unilateral action by us, and to say otherwise is completely false and highly mischievous since we have been transparent at all times.

“The enterprises operating within the LADOL free zone and the related parties are aware of the charges and the rules and regulations in detail. The charges are known and required to maintain the zones and the free zone scheme.

“There is nothing that was not known at the start of the project. Within the approved tariff, you have what is called the one percent management fee as the statutory charge. The one per cent management fee is one per cent of the cost of the product when it leaves the free zone.

Obviously you can’t calculate that till the end of the project so what is known is that there will be that calculation and that management fee is clearly stated on the tariff schedule and it’s not unique to this project and is not unique to Samsung.”

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