.
Mr Tiedor Olayinka President of NDYCPP said in an interview that
plan to implement the Nigerian Content Policy in the gas production expansion project
would serves as catalyst for economic progress.
Olayinka, who was reacting to assurances made by the Managing
Director of NLNG, Mr Tony Attah that the firm was banking on Nigerian firms to
build the NLNG Train-7.
NLNG Train-7, is a gas
production expansion project valued at over 7 billion dollars, located in Bonny
Island in Rivers.
NLNG is targeting to
increase its gas production capacity by 35 per cent from 22 million tonnes per
annum (MTPA) to 30 million MTPA, a project officials said would cost over four
billion dollars
It will be
recalled that Attah, NLNG’s Managing Director had on Nov.22 in Port Harcourt
at a public workshop entitled: “Nigerian Content for NLNG’s Train 7
Development.”, assured that the Nigerian Content Policy will drive the project.
According to Attah, the project will be delivered with full
participation of competent Nigerian companies in compliance with the Federal
Government’s Local Content Act 2010.
Olayinka noted that the policy of involving
Nigerians in the multibillion dollar project would trigger business
opportunities in the Niger Delta and provide jobs for the skilled youth
population in the area.
He noted that the Train-7
would increase the nation’s gas exports and increase Nigeria’s influence in the
world energy market and place Nigeria amongst the top three gas exporting
nations.
He said that gas was
increasingly preferred as one of the cleanest fuels and expanding production
would guarantee a steady source of revenue for the government
“We in Niger Delta Youth
Coalition for Peace and Progress received the news by NLNG MD with enthusiasm
as this would be a lifeline to most oil and gas entrepreneurs who have remained
idle due to lull in the sector.
“We applaud the NLNG led
by Mr Tony Attah, Nigerian Content Development and Monitoring Board piloted by
Mr Simbi Wabote and Dr Ibe Kachikwu, Minister of State for Petroleum.
“Under Wabote, the real
capital retention in the industry by patronizing Nigerian made components was
pushed from about 10 per cent to 30 percent and he has rolled out an ambitious
plan to hit 70 per cent by 2017.
“It should be noted that
these three Niger Delta sons have worked silently and turned things around in
the oil and gas sector and implemented reforms that pulled the country out of
recession.
“The role played by NLNG
in the heat of the recession by boosting government’s revenue saved the country
from distress and this is due to the expertise of the NLNG management led by
Attah.
“We wholeheartedly welcome
the invitation to participate in building the NLNG Train-7, and we are
following up with a Business roundtable on the NLNG Train-7 to be held in Bonny
Island.
“We are mobilizing oil and
gas entrepreneurs for the roundtable and we strongly believe that these three accomplished
experts, Kachikwu, Wabote and Attah would mentor and inspire our youths.
“To us, hosting these
three oil and gas industry icons in Bonny would provide the youths with success
tips and nuggets to uplift their businesses and enhance their competitiveness
when bidding for contracts in the Train-7.
“The decision to ensure
participation of host communities in the LNG Train-7 will enhance security and
success of the project,” Olayinka said.
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