LADOL Plans Investment In Ship Building

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In a move to enhance the rapid growth and development in indigenous shipping business in the maritime sector in Nigeria, the Management of Lagos Deep Offshore Logistics Base (LADOL) has concluded plans to establish a ship building facility in the country.

The move which is part of its contribution to boost the maritime sub-sector of the Nigerian economy was informed by LADOL’s desire to meet the yearnings of Nigerian ship owners.

  The Chairman, LADOL, Oladipo Jadesimi, who disclosed this to newsmen when the Director-General of Nigerian Maritime Administration Safety Agency (NIMASA).

Mr. Temisanre Raymond Omatseye, paid a facility visit to the company in Lagos, said LADOL is a wholly indigenous firm geared towards the development and operations of the oil and gas fabrication, engineering and logistics. He stated that the company investments in standard offshore facility and free trade zone, would bring what he described as “long term economic benefits and huge employment generation to the country.”

Jadesimi noted that shipping is a lucrative business, saying that there is an urgent need for world class offshore facility capable of facilitating significant production, fabrication and storage operations in the country.

His words: “Our investment in offshore facility was prompted by the local content initiative, which is very important in maritime industry development.  Our target market is the West of Nigeria. Angola for instance, is doing beyond expectation in fabrication and offshore operations which has brought benefits to its economy in terms of technology transfer, foreign  currency inflow and costs benefits analysis”.

He stated that NIMASA’s visit was of immense benefits and strategic importance since the agency is the major maritime body saddled with the responsibility of regulating activities in the maritime industry in the country.

“Our vision is regional and national.  We would also enhance national capacity to foster larger scale development, such that our local ship operations would not go to Ghana and other countries for fabrication and ships repairs which  could be done here in Nigeria”, he said.

In his remarks, the Director-General, NIMASA, Omatseye said the agency would give full support to LADOL in line with the policy of local content imitative of the federal government.

According to the NIMASA boss, indigenous companies need to be given a conducive business environment and level playing ground to thrive and stay a float in the shipping business. “ We are very happy with the quality of the equipment on ground and what LADOL’s is doing in the maritime sector in Nigeria.  LADOL investment is not just for the company alone, but for Nigerian economy as a whole.