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The Managing Director of the Lagos Deep Offshore Logistics base (LADOL), Dr. Amy Jadesimi, will early next month address a Global Forum on Development under the auspices of the Organisation of Economic Cooperation and Development (OECD), in Paris, France.
The event, which forms part of the agenda of Sustainable Development Goals (SDGs) of the United Nations (UN) Sub-Committee on trade and development, is aimed at closing the gap between “the actual and the desired level of investments” to achieve world economic growth.
Dr. Jadesimi, who is an international advocate of marketing the potentials of oil and gas in Africa, particularly in the West African sub-region, shares the view that SDGs are clearly beyond the reach of governments and public leaders.
OECD believes that “only with resolute engagement from the private sector, notably through partnerships with the public sector, can real development goals be addressed”.
The organization acts as a meeting ground for 30 countries that believe strongly in the free market system, as it provides representatives from governments, businesses, foundations and international organizations to focus on key policy challenges.
LADOL Free Zone which has been described as the first and only 100 per-cents indigenous oil and gas service provider in Africa, is currently playing host to Egina Floating Production Storage and Offloading (FPSO) project, valued at $3.8 billion.
In the project, LADOL is acting as local content partner to Korea-based Samsung Heavy Industries (SHI), in the integration of the world class oil production platform.
The Organisation of Economic Cooperation and Development is focused on addressing such challenges as new financial instruments, the role of small and medium-sized enterprises, effective public-private dialogue, and the challenges as well as opportunities of urbanization.
In the view of OECD, private sector resources need to be significantly mobilized to achieve sustainable development, since “only a small amount of worldwide assets is invested in sectors critical to the SDGs.
“This Session will explore innovative development finance tools, including blended finance, from a policy perspective. Participants will explore how OECD and non-OECD countries can play a catalytic role alongside investors and companies in order to ensure optimal outcomes”.
Notable participants at this year’s OECD Global Forum on Development which includes Nigeria’s Dr. Amina Mohammed, Deputy Secretary-General, United Nations, will take stock of existing initiatives to catalyze the power of the private sector in supporting the Sustainable Development Goals, explore new avenues of partnerships to mobilize the necessary resources and understand how the OECD can help.
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