Business
FG To Invest $20m In Pilot Pipe Mill
The Minister of Petroleum Resources and Co-ordinating Minister, of the Economy, Mrs Diezani Allison-Madueke has disclosed that the Federal Government will invest over $20 million in the Pilot Pipe Mill project in Bayelsa State.
Allison Madueke made this known while speaking at the Bayelsa State Investment and Economic Forum (BSIEF) in Yenagoa, Bayelsa State recently.
She hinted that the project was expected to be completed in 2015 as civil works and the construction of Jetty have began.
According to her, the project would create over 500 direct jobs and 10,000 indirect jobs, while some community youths would be trained abroad to work in the plant.
According to her, Nigerians, particularly indigenes of Bayelsa State should take advantage of the Nigerian Oil and Gas Industry Content Development Act, and the fact that the Board is located in Yenagoa, adding that they are to play key roles in the Oil and Gas Industry.
The minister hinted that the whole project which would gulp over $500 million would include key initiatives of the board that would be beneficial to the citizenry directly.
She opined that the projects would include Pilot Pipe Mill at Polaku, Bayelsa State, the Board Headquarters Project in Yenagoa, the Oil and Gas Industrial Park Development in Utueke, the Artisanal Training Programme being organised by the NCDMB in conjunction with the Federal University, Utueke, all in Bayelsa State, with a lot of other projects and activities.
Allison-Madueke further disclosed that the NCDMB’s headquarters which is expected to be completed in 36 months period will gulp over $20 million, stressing that the move was to develop the Nigerian content in the oil and gas sector of the nation’s economy.
She however commended NCDMB for its achievements within its four years of operation and enjoined them to keep it up as the Federal Government is well pleased with their activities.
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