Belemaoil, Africa’s first and only community-owned oil company, has led a group of investors in Rivers State, with the backing of the Rivers State government, to make the case for heavy US presence in Port Harcourt by setting up a ‘US Business Liaison Office’ in Port Harcourt.
The US government however says such consideration could only gain traction if Rivers State could have free, fair and peaceful elections that are now around the corner in 2019 with primaries starting this year.
The founder/president of Belemaoil, Jack-Rich Tein Jr, who led a team of investors to hand in the appeal at the corporate headquarters of the indigenous oil company on Odili Road in Port Harcourt on Tuesday, April 10, 2018, said Port Harcourt remained the hub of Nigeria’s oil and gas industry.
Saying there was urgent need to rescue the oil city and save the bulging youth population to avoid political instability in Africa’s largest population, Tein said the US has much to do to help some few courageous investors like Belemaoil pumping huge funds to prove that Port Harcourt can rise again.
He unveiled the Belema Model that shows intricate designs and schemes to integrate the oil host communities in oil operations as a way to restore the once-cherished love and trust between the oil industry and host communities, saying the presence of the US in Port Harcourt would simply complete the rebuilding process and cause a mass return of investors to the Garden City, the acclaimed hub of the Gulf of Guinea.
Explaining the model for peace and prosperity in the Niger Delta so as to make case for US presence in the oil region, the founder talked about creating wealth both for the company and the communities. He pointed to the employment of 3,000 youths by Belemaoil from the communities; and award of 374 scholarships at a go to indigenes with beneficiaries going home same day with their cheques.
He also talked about certified water from water projects to places that never saw good water in over 600 years of existence; roads built by US-made bulldozers; and the building of what he called the Technology Centre to groom technically sound youths.
On the medium and long term, the Belema president mentioned mouth-watering figures including 36,000 jobs to be created in three years and 60,000 in 10 years with plans to create $1.4bn value in over 240,000 homes.
To achieve this, he said Belema must increase value and production to 2000 per cent in the next 10 years from the present 12,000 bpd from OML 55 acquired from Chevron in 2013. He added that the company would need to work with at least 240 vendors.
The benefits would go to all in terms of peace, increase in oil output, more investors and stability in the Niger Delta again with business operators choosing the oil region once more.
Placing a definite appeal, the oil magnate said: “We cannot do it alone. We appeal to the US to establish presence here in the form of Business Liaison Centre in Port Harcourt.”
The Rivers State Commissioner of Commerce and Industry, Nancy Nwankwo, who added a push, described the founder of Belemaoil as a highly respected investor who garnished his business process with high dose of philanthropy. “He is very passionate for local communities. He has done so well in the state.”
She said Gov Nyesom Wike has so far done so much in the area of security and infrastructure to boost investments. “The region was neglected for long and it was about importation of contractors and marginalisation of the local people. Rivers State is a business hub, blessed with so much in terms of assets and natural resources. Our hands are open for investors.’
In his response, the Consul-General, F. John Bray, urged the people and government of Rivers State to work on the image of the state in terms of security to attract businesses. He regretted that the state tended to post the worst electoral violence during the 2015 elections (which went into endless re-runs and court disputes with more violence each time).
He hinged any attempt to consider the plea of the business group and the state government on posting a positive image of free, fair and peaceful elections next year.
Bray said: “I can feel the enthusiasm to boost the economy of Rivers State. I spoke with the Governor yesterday and I could feel the strong push for investments in Port Harcourt.
The issue is, how do we reduce security issues so as to convince foreign investors into the place?”
He commended Tein of Belemaoil thus: “We can see you are lifting a candle for others to see the way and to follow.”
The consul-general moved to the Government House on a courtesy call to Gov Wike.
Ignatius Chukwu
