The Nigerian National Petroleum Company Ltd (NNPCL) has signed a Shareholder Agreement with the Government of Akwa Ibom State and Solutions Hub Ltd to develop an integrated logistics hub that can service the Nigerian Upstream Industry and the entire Gulf of Guinea.
The logistics base, proposed to be sited on a 40 square kilometers space in Ibaka, Mbo Local Government Area of the State, within the already designated Free Trade Zone in Akwa Ibom State, is modeled to be an alternative to existing Logistics bases in Nigeria to offer offshore construction support to West & Central African regions.
Disclosing these in a tweet on Sunday, NNPCL said Akwa Ibom Governor – Udom Emmanuel, the leadership of NNPC, and Solution Hub Limited, signed the shareholder’s agreement of Ibom Solution Hub Limited on Saturday in Uyo, the state capital.
Based on the agreement, the NNPC is to have 30 percent of the ownership, Akwa Ibom, 20 percent, while Ibom Solutions Hub has 50 percent.
“Ibom Solution Hub Limited, a partnership of Nigerian National Petroleum Company (NNPC) Ltd – 30 percent, Solutions Hub Ltd – 50 percent, and Akwa Ibom state government – 20 percent is a fully integrated, real deepwater logistics services base project that will offer offshore construction and logistics services to the eastern flank of Nigeria, the West and Central African region,” the tweet reads.
“The logistics base, proposed to be sited on a 40sq kms space in Ibaka, Mbo LGA, within the already designated FTZ in A/Ibom state, is modeled to be an alternative to existing logistics bases in Nigeria to offer offshore construction support to West and Central African regions.”
Speaking during the event, Governor Udom assured that there will be no hindrance to the development of the Ibom Solutions Hub.
“Nobody will disturb this project. Hindrance will not come from the state, the host community or any part of Akwa Ibom at all,” he said.
On her part, the chairman, Board of Directors, NNPC Limited, Senator Margery Okadigbo, said that NNPC’s commitment to the pact with Ibom Solution Hub and other partners signals a new phase of tapping into the potentials and opportunities in the oil and gas sector.
Senator Okadigbo expressed appreciation to President Muhammadu Buhari for his approvals and to the government and people of Akwa Ibom State for their invaluable support and hospitality, without which the project would not have commenced.
She noted that investment at the Ibom Solutions Hub will add socio-economic value to the host communities and the state at large.
The event was attended by dignitaries such as Lami Ahmed, board member NNPC; Kamoru Busari, Ag. perm secretary, petroleum ministry; Simbi Wabote, executive secretary, Nigerian Content Development and Monitoring Board (NCDMB); Bala Wunti, chief investment officer, NNPC Upstream Investment Management Services Ltd (NUIMS); and Emmanuel Ekuwem, secretary to the state government, Akwa Ibom.
