An official described the project as a game changer not just for the oil and gas industry, but for the nation's economy.
The Nigerian National Petroleum Company (NNPC) Limited, Akwa Ibom State government and Solutions Hub Limited on Saturday signed agreements to establish a fully integrated, deep-water logistics shore base in the state.
NNPCL in a tweet on Sunday said Akwa Ibom governor, Udom Emmanuel, the leadership of NNPC, and Solution Hub Limited, signed the shareholder's agreement of Ibom Solution Hub Limited on Saturday in Uyo, the state capital.
It said that based on the agreement, the NNPCL is to have 30 per cent of the ownership,; Akwa Ibom, 20 per cent; while Ibom Solutions Hub has 50 per cent.
According to the statement, the logistics base proposed will be sited on a 40 sq km space in Ibaka, Mbo LGA, within the already designated FTZ in Akwa Ibom State. It is modelled to be an alternative to the existing logistics base in Nigeria to offer offshore construction support to West & Central African regions.
Speaking at the signing ceremony, the Group Chief Executive Officer of NNPC Ltd, Mele Kyari, represented by the Executive Vice President Upstream, Adokiye Tombomieye, described the project as a game changer not just for the oil and gas industry, but for the nation's economy.
"Ibom Solution Hub Limited, a partnership of Nigerian National Petroleum Company (NNPC) Ltd - 30 per cent, Solutions Hub Ltd - 50 per cent, and Akwa Ibom State Government- 20 per cent is a fully integrated, real Deepwater Logistics Services base project that will offer offshore construction and logistics services to the Eastern flank of Nigeria, the West and Central African Region," the official said.
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In his remarks, Mr Emmanuel thanked NNPC Ltd and Solution Hub for their thoughtfulness in choosing to partner with Akwa Ibom State thereby making the project a reality.
He reassured investors of the hospitality of Akwa Ibom State and solicited more projects that will provide employment and development opportunities for indigenes of the State.
In her remarks, Margery Chuba-Okadigbo, NNPC's board chairperson, stated that the oil firm is working with all relevant government agencies to deliver on the world-class facility, invited more partners to collaborate with the new NNPC in order to secure their right to play in Africa's largest market by partnering with its largest energy company.
"The event was attended by dignitaries such as Lami Ahmed, board member NNPC; Kamoru Busari, Ag. perm secretary, petroleum ministry, Simbi Wabote, executive secretary, Nigerian Content Development and Monitoring Board (NCDMB), Bala Wunti, chief investment officer, NNPC Upstream Investment Management Services Ltd (NUIMS), and Emmanuel Ekuwem, secretary to the state government, Akwa Ibom," the statement said.
