Oil tanks
An indigenous firm, Lagos Deep Offshore Logistics (LADOL), has expressed its commitment to continue to partner government in championing the course of local content drive in the oil and gas logistics sector of the economy.
A spokesman of LADOL, Mr. Alex Akao, stated this in a chat with journalists on the sideline of the just concluded two-day ‘2012 Oil and Gas Trade and Investment Forum’ in Onne, Rivers State.
He noted that economic growth was synonymous with youth empowerment through jobs creation, which could best be achieved by encouraging and promoting local investment, development, indigenous ownership, and management of job creating facilities by Nigerians.
He revealed that LADOL has so far invested over $100 million in transforming swamp-land off Apapa port axis in Lagos into a world-class one stop shop deep offshore logistics base and free zone now known as LADOL Free Zone (LFZ).
“LADOL is the only facility of its kind in Nigeria, being the first Greenfield specially designed and built deep offshore logistics base. As a wholly indigenous Nigerian facility, the organisation is a champion for local content and one of its greatest success stories is the provision of a hassle free onshore and offshore logistics supports for oil and gas production and exploration.
“Let me inform you that activities at LADOL this year alone have domesticated $60 million that would otherwise have been spent abroad”, he said.
The LADOL spokesman called on government to continue to support local investors by providing a level playing field, which would guarantee equal opportunities for Nigerian industry players.
President Goodluck Jonathan had in a speech read on his behalf by the Rivers State Governor, Hon. Rotimi Amaechi, noted that government remains committed to the implementation of the economic reforms which are capable of changing the dynamics of Nigerian economy.
“As part of our efforts, government has come up with policies, plans and programmes geared towards the reduction or elimination of bottlenecks and other encumbrances to business and investment through harmonisation of Nigeria Trade procedures and documentations”, he said.
Other efforts by government to provide an investment friendly environment, according to Jonathan, include the setting up of the Nigeria Extractive Industry Transparency Initiative (NEITI), public sector reforms through pubic private sector partnership, and the empowerment of the private sector through Nigeria Investment Promotion Act of 1995.
While reaffirming government’s faith in the capability and commitment of free Trade Zones operators in Nigeria, he stressed that the strength of his economic reforms agenda lies on a “robust private sector supportive investment facilitation mechanism as well as a fast-growing financial sector and youthful skilled and low cost labour”.
The 2012 Nigeria Oil and Gas Trade and Investment Forum with the theme, ‘Harnessing Investment Opportunities in the Oil and gas sector: The Role of the Oil and Gas Free Zones in the Transformation Agenda’ was organised by the Federal Ministry of Trade and Investment in conjunction with Orlean Investment West Africa.