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Successful anchor of Egina FPSO plus for ease of doing business in Nigeria—Osinbajo

Acting President Prof Yemi Osinbajo has traced the successful anchor of the Egina FPSO to growing local content across board and a resounding testimonial of the success of the Ease of Doing Business in respect of the Ports industry.

Speaking weekend during a presidential working visit to LADOL Offshore facility within the Lagos Ports Complex (LPC), Osinbajo enjoined stakeholders within the industry to compete favourably whilst appreciating the facility.

According to him, “Excellent work has been done here and they would be sacrosanct industry to the Economic Recovery and Growth Plan (EGRP) of Government in the long run as would be evident in the Nation’s GDP in no distant time.” He congratulated the Local Content Board for contributing effectively at bringing the facility and project to fusion.

The Vice-President used the opportunity to enlist support of stakeholders in the Federal Government’s fight against corruption in order that we join the comity of nations free from corruption.

NPA Egina Anchoring
The Acting President of Nigeria, Prof. Oluyemi Osinbajo (Middle), the Managing Director of Nigerian Ports Authority (NPA), HadizaBala Usman (left) and the Chairman of LADOL, LadiJadesimi (right) in LADOL, Apapa, Lagos today. PHOTO Business Hilights

Earlier in her address, the Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, said that the successful berthing of Egina is as a result of operational efficiency and very robust synergy between the NPA and LADOL including other stakeholders whilst reiterating that it is a testimony of enhanced capacity of the Authority to handle greater responsibilities in the sector.

She encouraged other operators to emulate the investments made by Total, LADOL, Samsung Heavy Industries (SHI) adding that government venture into the provision of a level playing field through anti-monopoly policies which have yielded great dividends.

“We as a result, hereby encourage prospective investors to explore this and other opportunities that the reforms of our operations have engendered benefits as we assure of NPA’s willingness to facilitate these ventures. We must however advise business organizations to ensure strict compliance with the country’s statutory rules and regulations”

According to her, the multiplier effects of local content policy is evident in visible technological transfer, accrued revenue to the nation, as well as in employment creation, reduction in capital flight, attraction of hub status for the oil and gas sector in Nigeria amidst the cost saving attributes.

She appreciated vast unflinching supports accorded the NPA Management, LADOL and other stakeholders in this respect stressing that the Egina project is a statement by Government that the quest for hub status is real just like she stated that “industrialization is real and that private indigenous companies are able to thrive and support international projects and investors.”

Other stakeholders who appreciated the LADOL facility and operation therein amidst the Egina FPSO project celebration were the Honourable Minister of State Industry, Trade and Investment, Hajiya Aisha Abubakar; Chairman LADOL, Mr. Ladi Jadesimi; Deputy Managing Director , Deepwater Total, Engr. Ahmadu-Kida Musa who represented the Managing Director Total Upstream, Mr. Nicholas Terraz; whilst Top Management of the NPA were on hand to support the Managing Director, Hadiza Bala Usman during the occasion.

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