The Akwa Ibom State has sealed a deal with the Nigerian National Petroleum Company Limited (NNPC) and Solutions Hub Limited for the establishment of a full-service onshore logistics base for marine construction support.
The logistics base, proposed to be sited on a 40 square kilometre space in Ibaka, Mbo local government area, within the already designated free trade zone in Akwa Ibom State, is modeled to be an alternative to existing logistics bases in Nigeria to offer the offshore construction support to West and Central African regions.
Speaking at the signing ceremony in Uyo, Governor Udom Emmanuel expressed the pleasure of the people of the state over the Ibom Solutions Hub partnership deal and assured of support for uninterrupted execution and completion of the project.
He expressed optimism that the new management will deploy the right business orientation into the company for the timely delivery of desired returns.
He, therefore, sued for the expedition of the process to bring gas onshore and other necessary actions by the NNPC towards the actualisation of the Amonia fertiliser plant in the state.
Expatiating on the enormous natural resources the state holds, the governor informed the NNPC delegation of the need to utilise the resources to address Nigeria’s need in the power and agriculture sectors, especially in the face of an impending food crisis.
“I’m happy that at a time like this NNPC now being a limited liability company, things will be different. The business approach, the speed in execution will be different because the focus is different, then people who are on the board, with the right corporate governance and risk management structure will be able to deliver on the much-expected returns”, he said.
Earlier, the chairman, board of directors, NNPC Limited, Margery Okadigbo, said the NNPC’s commitment to the pact with Ibom Solution Hub and other partners signals a new phase of tapping into the potential and opportunities in the oil and gas sector.
Okadigbo expressed appreciation to President Muhammadu Buhari for his approval and to the government and people of Akwa Ibom State for their invaluable support and hospitality, without which the project would not have commenced.
She noted that investment at the Ibom Solutions Hub will add socio-economic value to the host communities and the state at large.
Chairman of Mbo local government area, Asuquo Eyo, on behalf of the host communities, lauded the Udom Emmanuel-led government for the peace in the state.
Read also: Foreign exchange losses cost NNPC N124bn in two years
This, he said, has created an investment-friendly atmosphere in which the communities stand to benefit and expressed delight with the Ibom Solutions Hub project, pledging the support and cooperation of the host communities.
The high point of the occasion was the signing of the shareholders’ agreement by the parties concerned.
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