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FG unveils $500m projects for local content development in oil and gas

By on July 30, 2014

The federal government has unveiled new projects that would gulp $500 million for the development of Nigerian Content in the oil and gas sector of the economy.

Speaking while fielding questions from journalists after a recent visit the headquarters of the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa State, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke commended the achievements of NCDMB within its four years of existence.

She described the agency as a major contributor to the Transformation Agenda of President Goodluck Ebele Jonathan.

“We are all extremely pleased at the Federal level with the various achievements this board has recorded within this period of time. It is quite clear from our various movements particularly when we go to international fora and see the number of Nigerians, who are now exhibiting the services they deliver to the industry. It is progressing robustly every year and going from strength to strength. Within Nigeria, the success of Nigerian Content is incredible,” she said.

She also underscored the adoption of the Nigerian Content philosophy by other sectors of the economy like the Ministry of Communications Technology and the Ministry of Power as further proof that that the implementation of the Act has been effective.

“The fact that Nigerian Content policies are about to be deployed in various parts of the economy and ministries as well want to copy and learn from the Ministry of Petroleum is one of the things we can be actually proud of. It is one of the strengths of the oil and gas sector in the President Jonathan’s administration and we are very pleased with it,” she said.

On her expectation for the future, the minister expressed confidence that Nigerian Content implementation will “lend itself in a critical way to the growth of the nation’s economy and development of the citizenry in terms of knowledge, capacity building and employment generation.”

Speaking earlier at the Bayelsa State Investment and Economic Forum (BSIEF), the Minister charged Nigerians, particularly indigenes of the state to take advantage of the Nigerian Oil and Gas Industry Content Development Act and the fact that NCDMB is located in Yenagoa to play key roles in the oil and gas industry.

She also unveiled projects that would gulp $500 million, which also include key initiatives of NCDMB that would benefit Nigerians and Bayelsa indigenes directly.

These projects include the pilot pipe mill being developed at Polaku, Bayelsa State, the NCDMB Headquarters building project in Yenagoa, the Oil and Gas Industrial Park development in Utuoke, also in Bayelsa State, artisanal training programme being organised by the NCDMB in conjunction with the Federal University Utuoke, and a host of other activities.

She explained that over $200 million will be invested in the pilot pipe mill project, which is expected to be completed before the end of 2015.

The minister noted that the civil works and the development of jetty have started, with over 500 direct jobs and 10,000 indirect jobs to be created by the project, while some community youths will be trained abroad to work in the plant.

She also confirmed that the NCDMB’s headquarters building project will cost over $200 million and is planned to be completed in 36 months.

To ensure adequate participation of young Nigerians in the project, the NCDMB has commenced the training of 100 artisans, who will eventually work in the project.

Alison-Madueke said the project would employ over 1,000 workers while 10,000 indirect jobs in sub contracts and supply opportunities would also be created.

She also identified the Oil and Gas Industrial Park as another major development, which will create opportunities for Nigerians, including Bayelsa indigenes.

Giving an update on the project, the Minister said about $100 million investment would be sunk into the project, adding that the infrastructure construction will commence later in the year.

The facility will provide a platform for the manufacturing of components of the oil and gas industry equipment and create over 50,000 jobs.

 

[This Day]