NNPC, NCDMB Sign N10.5bn Products Terminal Deal

Emmanuel Addeh in Abuja

The Nigerian National Petroleum Corporation (NNPC), the Nigerian Content Development and Monitoring Board (NCDMB) and Zed Energy yesterday signed a deal for the establishment of a 50 million-litre petroleum products terminal in Brass, Bayelsa State.

The N10.5 billion project, the parties said, was expected to deliver an automated petrol depot with a two-way product jetty, a loading bay and six automated tanks for storage of 30 million litres of petrol as well as 20 million litres of diesel and kerosine.

A statement signed by the NNPC spokesman, Dr. Kennie Obateru, stated that the Minister of State for Petroleum Resources, Chief Timipre Sylva, who spoke during the event, commended President Muhammadu Buhari for his strides in the Niger Delta, which he said is making a huge impact on the people of the area.

At the ceremony to mark the execution of a shareholders’ agreement between the three organisations, Sylva noted that aside the new project, several others had been located in the region by the current administration.

“I make bold to say today without any fear of contradiction that no president has impacted the people of the Niger Delta like President Muhammadu Buhari.

“Aside from what we are witnessing today, remember there is also the Brass Fertilizer & Petrochemical Company, the Oloibiri Oil and Gas Museum and the Oil & Gas Park in Ogbia, all under Mr. President,” the minister was quoted as saying.

Sylva added that the establishment of the terminal further demonstrates Buhari’s commitment to the enhancement of the livelihood of the Niger Delta people particularly, the riverine communities in Bayelsa State where people purchase products at exorbitant prices due to logistics challenges associated with transporting products to that area.

In his comments, Group Managing Director of the NNPC, Mallam Mele Kyari, said the corporation was proud to be part of the project which apart from ensuring products availability in all nooks and crannies of the Niger Delta, will also guarantee the nation’s energy security and generate employment.

“This terminal will create 1,000 direct jobs during the construction phase, and over 5,000 indirect jobs during its operation. Considering the potential for employment when completed, this will definitely reduce youth restiveness in the Niger Delta area and will also address the problem of illegal refining in the area,” Kyari stated.

Also speaking, the Executive Secretary of NCDMB, Mr. Simbi Wabote stated that the milestone was as a result of strong inter-agency collaboration and public-private sector partnership.

“The NCDMB will continue to drive such partnerships across the industry to bring development in Nigeria,” he noted.

Earlier, the Coordinator of the Project and Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Bala Wunti, stated that the project would enhance the economics of marine petroleum products distribution.