Former President, Goodluck Jonathan has commended ERASKCORP Nigeria Limited for bringing the company to Bayelsa State maintaining that the establishment of the company will improve the internally generated revenue of the state.
Speaking on Thursday in Yenagoa, during the unveiling of ERASKON products, Jonathan stated that the company, when operational, will also generate more employment for the people especially the locals advising that the company should employ more of the host community.
“We need to do something about local content. We must encourage other smaller industries. When we do that, we can create job for our people. This he said will add value to the local economy and with this project, I pray that more companies will come to Bayelsa State.”
Meanwhile, Jonathan and the Minister of State for Petroleum Resources, Chief Timipre Sylva, were among the dignitaries that performed the groundbreaking of ERASKON 64,000 Litres/Day Lubricant and Chemical Blending Plant in Bayelsa State on Thursday.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, said that the Federal Government is determined to deepen local content and reduce the importation of products that could be produced locally.
Wabote, who represented the Minister of State for Petroleum Resources, Chief Timipre Sylva, at the event, said Nigeria currently consumes about 250million liters of engine oils per annum, adding that the consumption grows at more than five per cent every year due to the addition of new vehicles and machinery.
He however regretted that: “The in-country blending capacity has remained constant at about 150 million liters showing a shortage of about 100million liters. This shortfall is met by the importation of finished lube oil products with the attendant loss of revenue and job opportunities.”
The NCDMB boss further explained that the partnership with ERASKON was in line with the agency’s mandate to develop local capacity in the oil and gas sector.
“Section 70(h) of the Nigerian Oil & Gas Industry Content Development (NOGICD) Act of 2010 mandates the Board to assist local contractors and Nigerian companies to develop their capabilities and capacities to further the attainment of the goal of developing Nigerian Content in the Nigerian oil and gas industry,” he added.
Wabote commended the vision of ERASKON management in setting up the lubricant plant which according to him would provide jobs for over 200 persons and over 800 indirectly.
In his welcome address, the Executive Vice Chairman of ERASKORP Nigeria Limited, Mr. Maxwell Oko, stressed that Nigeria consumes about 700 million liters of lubricants every year accounting for about 20 percent of Africa’s total demand.
He added: “The idea of building a lubricants blending plant follows our determination to contribute to Nigeria’s industrial development
“Lubricants are the lifeline of every engine.”
Oko further commended the partnership ERASKON with NCDMB, saying: “Our confidence was further boosted by our partnership with the Nigerian Content Development and Monitoring Board (NCDMB) who, from their investment in us, demonstrated a clear commitment to our vision.
“Specifically, this lubricants blending project aims at providing employment, developing local manufacturing capacity, and increasing local content participation in the industry.
“We believe our people can grow better with proper transfer of know-how and the best way to aid that process is to site companies where such know-how can be put to use closer to them.
“We want all Bayelsans, Niger Deltans, and indeed Nigerians to see this project as part of our own achievements in commerce and industry.”
Also speaking at the event, Former President Goodluck Jonathan, who performed the product launch, congratulated Wabote for supporting Congratulate ERASKON’s lubricant project just as he supported the Azikiel Refinery.
“Today is a happy day for me that we are seeing this in Bayelsa. This project will attract other investments and beyond increase the revenue of the state,” Jonathan said.
