In a concerted effort to curb illegal refining and stabilize petroleum products pricing in the Niger Delta, the Federal Government has signed agreement with shareholders on the construction of Brass Petroleum Products Terminal Ltd (BPPT).
The shareholders in the BPPT include the Nigerian National Petroleum Corporation (NNPC), Nigeria Content Development and Monitoring Board (NCDMB) and ZED Energy Ltd.
On completion, the BPPT is expected to close infrastructure gap in the distribution of petroleum products and also stop illegal refining in some parts of the Niger Delta.
The terminal will also serve as a strategic reserve for the country and provide a depot for a 50 million-litre facility, two way product jetty, automated storage and automated bay for AGO, PMS, DPK and ATK.
Speaking at the occasion in Abuja, the Group Managing Director of NNPC, Malam Mele Kyari, expressed joy that the project has finally come on board.
“This should have happened 30 years back but we are proud that it is finally coming up. Location of a depot offshore is a clear business case. We will deliver the project, building 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 (Petroleum) and all stakeholders, so we will put pressure in operation to make sure it is delivered,’’ Persecondnews quotes the NNPC boss as saying.
The Minister of State for Petroleum Resources, Chief Timpre Sylva, said he was happy that the agreement had raised the performance bar of the Buhari administration, noting nobody has impacted the oil sector more than the president 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.
“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,’’ he said.
Sylva said float 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 products. With this happening, we will have products at the same rate as anywhere.”
The minister lauded President Muhammadu Buhari for ensuring the development of the region with the approval to build the terminal, Brass Fertilizer Plant, Gas top company among others.
Also, the Executive Secretary, Nigeria Content Development Monitoring Board (NCDMB), Mr Simbi Wabote, thanked the NAPIMS for inter-ministerial collaboration to get to the stage of signing the agreement.
“The team did an impressive work, we urge all stakeholder to continue with the tempo until the project is delivered.
The board members will continue to help drive this project, we will demand for performance and accountability, ” he said.
He said that the project was expected to create jobs and help stop illegal refining in the region and urged all partners to ensure that the project was delivered within the time frame.
On his part, the Managing Director ZED Energy Ltd, Mr John Dankori, thanked the Federal government for giving them the opportunity to be part of the project.
Dankori, who was represented by Mr Onesi Obende, assured that his company would stop at nothing to ensure the project was delivered as scheduled.
Earlier in his presentation, the Managing Director of NAPIMS, Mr Bala Wunti, said 40 per cent of onshore oil was produced from Bayelsa.
He said NAPIMS was happy to be part of the project and had done everything within its power to get to this stage.
He said that the cost estimate before the taking of Final Investment Decision was N10. 5 billion, adding that the fund would come from partners.
Wunti disclosed that the project was expected to be delivered by 2023 with a lot of benefit to the region.
“The depot when completed will be unique as it would have dual services for land and marine truck loading.
This is something great, we are honored that we are chosen as instrument to implement this project.”