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Content material board hails Samsung

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Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has hailed Korean shipbuilding giant, Samsung Heavy Industries (SHI), for the successful completion of the Egina Floating, Production, Storage and Offloading unit (FPSO).

He said the project has not only placed LADOL free zone on global map but significantly transformed Nigeria into a hub for fabrication and integration of FPSO, unit in Africa.

Wabote spoke at a capacity workshop with the theme: Strategic Communication – A Critical Enabler to Attainment of Nigerian Content 10-Year Roadmap, organised for media stakeholders by NCDMB in Lagos.

The NCDMB chief said LADOL would always be grateful to SHI for the feat.

Speaking through NCDMB’s General Manager, Corporate Communications and Zonal Coordination, Dr. Ginah O. Ginah, the NCDMB Executive Secretary said Nigeria, through the Egina FPSO project, had become a reference point in giant FPSO construction.

“Of course, it is on record that LADOL was existing, but it did not have the capacity. So, what did we do? This is in a way like the 10-year roadmap, during which we intend to achieve 70 per cent attainment. The calculation was that with the South Koreans, significant part of the FPSO would be constructed in-country so we can begin to build capacity in Nigeria.

“Even the parts that are made in Nigeria, we understand that the capacity was not there also. So, we have to engage SHI and other companies in Nigeria in building capacity.”

“We engaged companies in Port Harcourt and other places. Yet, all these places did not have the capacity then. But we calculated that by the time the South Korea would finish their job, we should be able to build the capacity in this country. So, it was a big risk. LADOL was already existing and they were praying for one big project that they would break all the records, and the big projects came,” Wabote said.

He added: “So, to LADOL, we were sent by God. We are the one complaining. LADOL is now known everywhere in the world, and they have made more money through this project than all they have made before altogether.”

The Executive Secretary said the successful construction and local integration of the Egina FPSO in Samsung’s fabrication yard in Lagos was a key success story in the Nigerian content initiative.

“Under the local content implementation, we have seen a major breakthrough with the massive investment by Samsung in Lagos.

“The successful construction and integration of the FPSO for the Egina project is worthy of mention. This is a key success story. Going forward, this singular asset will bring about massive revenue to the country as we expect other African countries to take advantage of this facility than going outside the shores of the continent for FPSO construction,” Wabote said.

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