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N/Delta  Youth Group Applauds NLNG for Nigerian Content In $7bn Train 7

The Niger Delta Youths Coalition for Peace and Progress (NDYCPP) on Tuesday applauded the Nigeria Liquefied Natural Gas (NLNG) for its strategy of involving Nigerians in its Train-7 expansion.

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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.