Okijajuju1:
Good Development, but I dont trust the Chinese.


Nigeria needs to raise an enforce stricter employment laws.

The Chinese, Indians, Lebanese and Arabs are slave drivers and the worst employers of labor Worldwide.

idupaul:


Please cool down Korean and Chinese are in no way the same people with different name .. And for ur info I knew u were had made the silly mistake of thinking Samsung was a Chinese firm ...

kraftykc:


Bros, I no dey try you u but really the Koreans and Mainland China have NOTHING in common save for the fact that they are Asians. Stop lumping people's character traits together cause they have similar physical builds, that's a job for racists.

Okijajuju1:



Be that as it may, putting in stricter employment laws is not a bad idea or is it?

Okijajuju1:



SAMSUNG.. Deductive reasoning.


Korea, China, e.t.c.. Same people, different names.

AustineE1:
With the value of Naira at its lowest level ever and depreciating uncontrollably and our government seems very incapable to stop the trend,with neophytes running the financial sector of our dear nation. $400 million indeed will mean so much money.
So happy for the Samsung investment,which is rear in this government,atleast more jobs for Nigerian youths.

kraftykc:
Now the multiplier effect of this company will mean more steel consumption and metallurgy for Nigeria, more foundries and most importantly, a practical approach to education and research.

I'm so psyched for this to start.

forgiveness:


Different people. Shikena

kraftykc:
YES!! Freaking awesome news. If this is PMB's handiwork I'm more than impressed.

Congrats to Ambode, Laos state, and Nigeria as a whole. We will get there.

AustineE1:
With the value of Naira at its lowest level ever and depreciating uncontrollably and our government seems very incapable to stop the trend,with neophytes running the financial sector of our dear nation. $400 million indeed will mean so much money.
So happy for the Samsung investment,which is rear in this government,atleast more jobs for Nigerian youths.

GoodBoi1:
Hope the employ more nigerians later, not big company importing workers

kraftykc:
Now the multiplier effect of this company will mean more steel consumption and metallurgy for Nigeria, more foundries and most importantly, a practical approach to education and research.

I'm so psyched for this to start.

mickey45:


It'll surely improve our manufacturing base, LADOl is strategically placed, they may even start handling such projects like NiGERDOCK does for clients in neighboring countries like Ghana's just growing petroleum industry

On the relocation of the Egina project from LADOL fabrication yard in Lagos to Agge in Bayelsa, the stakeholders said neither the Federal Government nor the Nigerian Ports Authority has a right to ask the company or the project to relocate to Bayelsa.
The Nigerian Ports Authority (NPA) had on April 27, 2015, directed LADOL Integrated Logistic FZE to relocate its FPSO project to Agge, where its claimed to have provided facilities for such operations.
The letter, titled: “Joint Venture Partnership with Samsung Heavy Industries for USD $500 million Development of a fabrication and integration yards for Egina and future projects” was signed by the General Manager in charge of capital projects, Mr. A.R Mohammed, an engineer.
The letter addressed to LADOL’s Managing Director, reads in parts: “Please be informed that Mr. President has vide Press/99/MT/212 of April 20th, 2015 approved that the FPSO project can be relocated to Agge Bayelsa State, where the facilities to handle such operations are developed. In addition, the project can be conveniently located at any dedicated oil and Gas Terminal.”
The second letter titled “Discharge of oil and Gas related cargoes” directed that vessels carrying oil and gas cargoes should first go to the appropriate NPA concessioned terminal to be cleared by customs and other relevant authorities, including terminal operators and shipping lines, and pay necessary charges before proceeding to locations for final discharge.
Agge is said to be a fishing community in Ekeremo Local Government Area (LGA) of Bayelsa State. Located in the mouth of Atlantic Ocean, reports say it cannot be accessed by road. Although it is the largest community in the council area, it may not have social amenities, except electricity supplied by Agip Oil Company from a gas turbine installed for ease of operations. The company extended electricity to the rural dwellers free of charge.
The Managing Director of the Lagos Deep Offshore logistics (LADOL) Dr. Amy Jadesimi, who reacted to the relocation directive, said it was impossible for the project to be relocated, especially to Bayelsa.
“We got the two letters the same day, a day after the appointment of the new Managing Director of the Nigerian Ports Authority, Alhaji Sanusi Bayero. The letters are diversionary in content, and the stakeholders should not allow them to distract their attention from the goals of providing one of the biggest floating vessels in the world, and making Nigeria the West Africa oil and gas hub, among other laudable objectives. We do not have any problem with the NPA. NPA has office in LADOL free trade zone. It has been following our construction in the zone. By the end of 2017, we would have invested $500 million privately in the NPA facility. And so, the letter surprised me. We are asking for clarifications. The two letters they sent to us are impossibilities. I want to believe that NPA has been misled. They do not know the implication of what they are doing. Tactically and technically, it is impossible for the project to be relocated to Bayelsa”.
According to her, the financial and social implication “of this proposed relocation will be too huge to quantify. First, one needs to take cognizance of the fact that although the $3.8 billion FPSO integration is taking place at LADOL base, other companies such as Dormalong, Aveon, to mention but few, are poised to provide ancillary services”.
She said the project could attract direct employment of 5,000 workers and 50,000 indirect employments.
“ FPSO means a floating vessel close to an oil platform, at a place where oil is stored or processed, waiting to be transferred to a tanker vessel for shipment. It is a project that will be handled by Total. When completed, it will bring a lot of multiplier effects on the national economy. Right now, the project site is 75 percent completed. Huge revenue accruable to government from this project along with the investments that would come with it in a short-term is put at $20bn. Apart from the job losses, revenue losses to government is also an avoidable possibility, if the relocation order is enforced”................

On the directive for the relocation of LADOL fabrication project to Bayelsa State, the SOAN President described it as “rubbish”.
“It is rubbish. Nobody should dream it. It is an attempt to cause confusion. I don’t even know where Agge is and I have not heard of that name before now. The Government should tell the world the kind of infrastructure and social amenities in Agge that will attract people to move into the place. They should give us a pictorial view of infrastructure, social facilities like telephone, roads, portable water etc available at Agge first.”
The president of the Council of Managing Director of Customs Licensed Agents, Lucky Amiwero, said the directive for the relocation of the Egina project was not in good fate, adding that the government and the NPA should be careful not to attract litigation.
“The NPA has no right to issue that directive. They have to look at the law that granted LADOL the use of its present location in Lagos first. They are not the owner. If LADOL is a private orgarnisation, they don’t have the right to order its relocation, unless government or NPA has a share in it. The whole thing has to do with the law; it cannot be done, using political power. We have been operating in the country for 16 years without appropriate laws. Which law gave them power to relocate a company like LADOL”, he questioned.

mickey45:


This project has been in the works long before now,

I think MOU was signed since 2013.

It is actually one of the fruits from Maduekwe's local- Content- Policy (which is why I pray Buhari will appoint a fair-minded, indigenous, son-of the soil, petroleum industry insider like Allison in that post)
Total awarded it's Latest and Largest FPSO (EGINA) to Samsung heavy Industries.
But Samsung was mandated by the Local content bill to partner with an indigenous company to undertake not less than 10% of the jobs in the country.
LADOL won the technical partner contract (of course with Tinubu's contacts and perhaps GEJ thinking Tinubu will give him softer landing come 2015)

Perhaps as lagos was surely lost vote-wise, GEJ issued a counter directive, close to his departure, mandating Total and Samsung to move the construction yard down to Bayelsa citing its 'closerness' to the site and deeper water levels. Prompting LADOL to go to court then.
This news proves the issue has been resolved.

It will be disappointing if they fail to fulfill the backward integration vision the country has for them starting from local sourcing of consumables etc.

They (samsung Heavy ) and NLNG have been jointly moving Nigerians to Korea for training on Welding, fabrication and shipbuilding.
Perhaps they'll now employ them into full term work.
That is the beauty of Civilian Govt.

kraftykc:


Now that you say it I remember the court case in the papers. I glad you gave me such an amazing background information, I hope we can get this one right.