The Nigerian National Petroleum Corporation (NNPC), the Nigerian Content Development & Monitoring Board (NCDMB) in partnership with Zed Energy Limited executed a Shareholders Agreement for the development of a 50 million litre petroleum products terminal in Brass, Bayelsa State.
The N10.5 billion Brass Petroleum Products Terminal project will deliver an automated 50 million litre depot with two-way product jetty, automated loading bay, and 6 automated tanks for storage of 30 million litres of PMS, and 20 million litres of AGO and DPK.
The Honourable Minister of State for Petroleum Resources, Chief, Timipre Sylva commended the shareholders and said that this initiative further demonstrates Mr President’s commitment to enhance the livelihood of the Niger Delta people more especially, the riverine areas in Bayelsa State that typically purchase products at exorbitant prices due to the challenges with transporting products to that area. Therefore, the Terminal, upon completion will deliver petroleum products to the people in the riverine areas at an affordable price and in comparison, to the rest of the nation.
The Group Managing Director of the Nigerian National Petroleum Corporation in his statement said that NNPC is proud to be part of this project and it will not rest its efforts in ensuring energy security in the nook and crannies of the nation. Furthermore, the GMD said the project will create 1,000 direct jobs during the construction phase, and over 5,000 indirect jobs during its operation. Considering the potential for employment when completed, he reiterated that it has the potential to reduce the restiveness in the area.
In his remarks, the Executive Secretary of NCDMB stated that this milestone achievement is a result of strong interagency collaboration and public-private sector partnership and stated that the NCDMB will continue to drive such partnerships across the industry to bring development in Nigeria.
Earlier the Coordinator of the Project, Mr Bala Wunti stated that the project was conceived by the partners to ensure petroleum products are available, accessible, affordable and in an acceptable form to residents of the Niger Delta, this will disincentivize illegal refining and bunkering in the region. He further stated that the project would also enhance the economics of marine petroleum product distribution.