General news

Snake Island: FG receives report on idle fabrication yard

Published

on

By Edith Ike-Eboh

The Federal Government has officially received the report of the Committee on Compensatory Contracts and Other Incentives for KAZTEC Engineering Ltd.

KAZTEC Engineering Limited is a subsidiary of Chrome Group, a local engineering and manufacturing company owned by Chief Emeka Offor.

The company’s manufacturing site on Snake Island, home to the Badagry Creek Industrial Park Free Trade Zone, cleared in 2014, was blocked in March 2015 when Addax Petroleum had tax problems with the federal government .

The grounding of the company also led to the abrupt halt of the construction of the platform for the production of oil from the fields of Yesteryear and of Ofrima / Udele and the unpaid wages of workers, contractors and providers.

Receiving the report in Abuja on Wednesday, the Minister of State for Petroleum Resources, Chief Timipre Sylva, commended the committee for the extensive work done with the report.

“You were carefully chosen to sit on this committee after the chair asked me to look into this issue and make recommendations.

“So I looked for the best brains to look into the matter and you haven’t disappointed us. I have to say you did a great job; we at the petroleum ministry are here as independent arbitrators to ensure justice in the petroleum industry.

“Justice for our investors and justice also for Nigeria. I am glad you did a great job, we will review your report and ensure that your recommendations are conveyed to the President and implemented, ” he said.

Previously, Senator Magnus Abbe, chair of the committee, congratulated the chair on the privilege of working in committee to help revive the earth-made court for the nation’s economic growth.

He said the Committee had already submitted an interim report which had enabled Nigerians to understand the situation on the ground.

“It is important that Nigerians realize the magnitude of what happened to this project, it was a project which was to extract over 19 million barrels of crude from our existing reserve and which would have added to our daily production.

“After the project was awarded and everything in place, contracts awarded and nearly $ 1 billion invested, Addax Petroleum called Force Majeure on matters unrelated to the current project.

“This action has put more than 3,000 Nigerians out of work, invested millions of dollars that the country would have used for other things at risk,” he said.

He added that the committee had carefully analyzed the deplorable situation observed on the ground at the site and the negative effect it had on the indigenous business and the Nigerian economy.

“Not only have the workers been affected, but a lot of things that would have been done in the country that would be useful in other projects will be paid again.

“In the interim report that we presented, these issues were well addressed, today we are here to officially present the report and say that the committee members were competent and from a reputable organization,” a- he declared.

He said the committee had done a thorough job looking at all the circumstances in the matter, adding that it had no right to blame the situation but to advise the president on what legally permissible measures could be taken to save. the situation and help. the Nigerian economy. (NOPE)

(NAN)

Short Link: https://wp.me/pcj2iU-3yFy

NNN

NNN: :is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

FG NITDA tasks on IT promotion CENI blames electoral violence on population growth and inadequate PUs Fayemi calls for dialogue to end JUSUN strike Oil tanker explosion kills 12 in Benue – FRSC Coronavirus – South Africa: COVID-19 update (April 18, 2021) COVID-19: Imperative for CBN Health Sector Research and Response Joel Embiid of Philadelphia receives NBA Cares Community Assist Award presented by Kaiser Permanente Dutch bank ABN Amro pays 480 million euros for money laundering Coronavirus – Ethiopia: COVID-19 update (April 18, 2021) Somali army kills top Shabab leader INEC confirms the death of 3 employees in the Borno accident 8 repentant activists, kidnappers become pastors in the OPM church Oyeyemi instructs FRSC staff to quickly upload vehicle information Coronavirus – Malawi: COVID-19 update (April 18, 2021) Weeds and rodents invade the premises of the Steyr assembly plant in Bauchi Our investment in the BIP will promote infrastructure development – Dangote Natural risk mapping project in ECCAS member states: the final validation workshop took place on March 29 and 30, 2021 Coronavirus – Kenya: COVID-19 update (April 18, 2021) Coronavirus – Rwanda: COVID-19 update (April 18, 2021) Africa Oil & Power turns into energy capital and energy Coronavirus – Nigeria: COVID-19 update (April 18, 2021) Coronavirus – Zambia: COVID-19 update (April 18, 2021) Canon Unveils Three New RF Lenses – Including a “World First” – Bringing Photographers Next Level Capabilities Dlamini returns for the Tour of the Alps CSCS Reports N6.93 Billion Profit, 2020 N 5.85 Billion Dividend 10 in the police net on an alleged clash between rival sects in Ekiti West Africa launches new payments digitization program End of era of violence in Niger Delta region – Amnesty boss Police arrest 15 suspects for criminal conspiracy 12 best European football clubs agree to found new Super League Iheanacho ends Leicester City’s long wait for FA Cup final Kwik Delivery publishes the Prestashop plugin; becomes the most integrated delivery platform with e-commerce frameworks in Africa Ecuadorian electorate proclaims Lasso winner of second round of presidential election Train derailment kills 11 passengers in Egypt – Ministry UEFA warns clubs of breakaway Super League plot NCDC records lowest daily case of 26 new COVID-19 Iheanacho ends Leicester City’s long wait for FA Cup final D’Tigress will make Nigerians proud at Tokyo 2020 Olympics – Amukamara IDB supports Kwara health insurance with $ 99,000 Rivers LG polls: RISEC declares PDP winners in 23 LGAs Zanfara Govt spends 2.9 billion naira on Ramadan welfare – Official Mother’s Day: instilling good moral values ​​in children – Catholic priest La Liga: Atletico Madrid rout Eibar as Real Madrid draw Getafe NASFAT unveils multimedia center in Kaduna Edo Queens and Delta Queens launch NWFL Super Six Premiership Governor AbdulRazaq does not touch LG funds – NULGE APC attacks PDP over printed naira allegation against CBN Air Peace to start Abuja-Gombe flights soon – Official Drug addiction: Marwa gives parents and religious leaders a rescue mission FUNAAB VC denounces the obsession of young people on social networks