Business
Monarch Hails Tinubu Over $400m Otakaikpo Export Terminal Unveiling … Lists Economic Benefits
The Okan Ama of Ikuru Town, in Andoni Local Government Area HRM, King Aaron Miller Ikuru, has hailed President Ahmed Bola Tinubu for the unveiling of the $400million crude oil terminal at the Otakaikpo oil field in Ikuru Town
King Ikuru, who said this in his address during the unveiling ceremony, also assured multinational corporations operating in the area of a conducive business environment.
He said the project will not only improve the economy of Ikuru Town, but that of the entire Andoni and Rivers State.
The traditional ruler said the ceremony marks a new chapter in Ikuru Town and Andoni in general as the area has become the proud host of a monumental national asset like the $400million crude oil terminal.
According to him, “the project stands as a testament to the administration’s commitment to economic diversification, energy infrastructure development and local content advancement.
“Your Excellency Sir, this singular investment not only represents a milestone in Nigeria’s oil and gas production capacity, but it also symbolizes hope for job opportunities, hope for improved livelihoods, and hope for sustainable community development.
“We acknowledge and appreciate the vision policy direction and support that has made this project a reality.”
King Ikuru said the community has utilized very judiciously the 3 percent opex for its development.
“Currently, there is an ongoing legacy water project for the provision of potable water and a one year skills acquisition programme for youths in the community”, he noted.
The monarch, however, decried inconsistent payment of the statutory 3 percent opex by the JV, and expressed the hope that priority would be placed on the payment of the outstanding 3 percent for 2024 to the community HCDT.
King Ikuru also urged the company to instruct the JV to provide electricity to the host community and stressed the need for Ikuru to be connected to the energy source as Otakaikpo marginal oil field.
Speaking to journalists, the Chairman, Community Development Committee (CDC), Ikuru Town, Ebenezer Bright, described the event as a memorable one, stressing that it would open up the area for development.
He said he was happy that the event is happening at his own time and assured the company of a better relationship with the community.
An indigene of Ikuru Town, Professor Lysias Gilbert, said the economic effects of the terminal will be felt across the country as more barrels of oil will be exported from the terminal.
He urged the community to unite and embrace the opportunity by remaining peaceful.
The President was represented by the Minister of State for Petroleum, Senator Heineken Lokpobiri.
By: John Bibor