Osinbajo calls for favourable competition in maritime industry

Managing Director of Nigerian Ports Authority, Hadiza Bala Usman, welcoming Vice President Yemi Osinbajo to Lagos Port Complex, Apapa, on a tour of LADOL’s Egina FPSO.

Vice President Professor Yemi Osibanjo has called for a favourable competition among stakeholders in the nation’s maritime industry and attributed the anchor of the Egina FPSO to the success of the Ease of Doing Business in the industry.

Osinbajo stated this when he visited LADOL Offshore facility in the Lagos Ports Complex (LPC), last weekend.

According to him, “Excellent work has been done here and they would be sacrosanct industry to the Economic Recovery and Growth Plan (EGRP) of Government in the long run as would be evident in the Nation’s GDP in no distant time.”

The Vice-President used the opportunity to call on stakeholders to support the Federal Government’s fight against corruption for the country to join the comity of nations free from corruption.

While speaking, the Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman, noted that the successful berthing of Egina was as a result of operational efficiency and very robust synergy between the NPA and LADOL including other stakeholders.

She encouraged other operators to emulate the investments made by Total, LADOL, Samsung Heavy Industries (SHI) adding that government venture into the provision of a level playing field through anti-monopoly policies which have yielded great dividends.

“We as a result, hereby encourage prospective investors to explore this and other opportunities that the reforms of our operations have engendered benefits as we assure of NPA’s willingness to facilitate these ventures. We must however advise business organizations to ensure strict compliance with the country’s statutory rules and regulations,” said Usman.

According to her, the multiplier effects of local content policy is evident in visible technological transfer, accrued revenue to the nation, as well as in employment creation, reduction in capital flight, attraction of hub status for the oil and gas sector in Nigeria amidst the cost saving attributes.

Prof. Yemi Osinbajo (Middle), Managing Director of Nigerian Ports Authority, Hadiza Bala Usman (left) and Chairman of LADOL, Ladi Jadesimi (right) in LADOL at the event.


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