In a bid to curb illegal refining and stabilise products pricing in the Niger Delta region, the federal government on Friday signed a shareholders’ agreement for the construction of Brass Petroleum products Terminal Limited ( BPPT).
Speaking after the signing in Abuja, the Minister of State for Petroleum Resources, Timipre Sylva, noted that when completed, the project will help close the infrastructure gap in distribution of petroleum products and also stop illegal refining activities taking place in some parts of the Niger Delta.
He said: “Today is my happiest day as a minister because of the successful Nigeria International Petroleum summit and this happening now is an indication that we are driving our aspiration.
“This agreement has scored Mr president so high because nobody has impacted the oil sector more than he has done.
“Apart from approving this agreement, the president also approved building of Oloibiri museum which is moving at a high speed
“Construction of this depot in the Niger Delta is a big milestone as the people in the riverine areas buy petroleum products five times the price other people purchase it, “he said.
According to him, Floating stations were built to service the riverine areas but the depots or terminals to service them were never built over the years.
“This project will assuage the problems of the Niger Delta and will curb illegal refining occasioned by lack of access to the product.
“With this happening, we will have products at the same rate as anywhere, ” he added.
The terminal will also serve as a strategic reserve for the country and is expected to provide a depot for a 50 million litre facility, two way product jetty, automated storage and automated bay for AGO, PMS, DPK and ATK.
He commended the effort of President Muhammadu Buhari in ensuring the development in the Niger Delta region with approval to build this terminal, Brass Fertiliser plant, gas top company among others.
” We.can only say thank you Mr President,” he said.
NNPC’s Group Managing Director Mele Kyari, assured that the Corporation will ensure that the project is delivered on schedule noting that after decades of neglect, the project finally came on board.
“We will deliver the project, building the jetty and depot does not take too long. our partners and we, will deliver the project and put it in place.
“We will be held responsible by the Minister and all stakeholders, so we will put pressure in operation to make sure it is delivered, ” he said.
Also, the Executive Secretary Nigeria Content Development Monitoring Board ( NCDMB) Mr Simbi Wabote commended the NAPIMS for inter – ministerial collaboration to get to the stage of signing the agreement.
He said that the project was expected to create jobs and help stop illegal refining in the region
He urged all partners to ensure that the project was delivered within the time frame.
“The board members will continue to help drive this project, we will demand for performance and accountability, “he said.
Also, the Managing Director ZED Energy Limited Mr John Dankori thanked the Federal government for given them the opportunity to be part of the project.
Represented by Mr Onesi Obende, he assured that his company would do all required by them to ensure the project was delivered within the time frame.
In his address, the Managing Director of NAPIMS, Mr Bala Wunti said 40 per cent of onshore oil was produced from Bayelsa. Just as he disclosed that the N10. 5 billion for funding the project would come from partners.
When completed the depot will serve both for land and marine truck loading.
“This is something great, we are honored that we are chosen as an instrument to implement this project,” he added.