Business Hilights
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FG finally assures on real takeoff of Maritime University in Delta State this year

As a way of consolidating the apparent peace in oil communities which has recently translated to increased exports of crude and boom in foreign reserves, indications have emerged that the federal government may have abandoned its probe on how the acquisition of some hectares of land at Gbaramatu, in Delta State, the site of the Maritime University would cost as high as N25bn.

The said sum had been the bone of contention between promoters of the university and the Minister of Transportation, Mr. Rotimi Amaechi and later extended to the Director General of NIMASA, Dr. Dakuku Peterside.

But in a sweeping pronouncement by the Vice president, Prof Yemi Osinbajo, government is no more looking at what the previous government spent to acquire the land but to develop the land for what it was meant for just for the sake of peace.

Monday, Federal Government said the take-off of the Maritime University and establishment of Modular refineries for absorption of illegal refiners have been prioritised in Niger Delta.

Also, the apex government has also listed as priority, the revamping of the pipeline protection contract, review of Amnesty Programme and the revival of abandoned project in the oil rich region.

Sources at the presidency confided in Business Hilights that before the end of this month or early next month, government will release a substantial take-off grant for the university while awaiting the conclusion of legislation on the establishment of the university by the National Assembly.

The university located in Gbaramatu would be funded by the Petroleum Trust Development Fund as the lead agency.

Already, government has directed the Ministry of Petroleum Resources and the Petroleum Trust Development Fund (PTDF) and other stakeholders to design an effective funding model for the university.

As part of seriousness in the new wave of Niger Delta deal to sustain peace, the Presidency has also directed the NDDC to liaise with the relevant agencies and organisations to facilitate the construction of an access road through Escravos to the university in Gbaramatu.

The idea according to the source is to integrate operators of illegal refineries into the emerging design for the master plan of chains of modular refineries in the region very soon.

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