LADOL, Nigerdock Expend $1billion on Ship Yard Facilities to Boost Productivity

Two major ship repair and fabrication yards in Nigeria, Lagos Deep Offshore Logistics Base, LADOL, and Nigerdock, have invested over $1.1billion to boost their productive capacity.

This development is in line with their mandate to meet the Local Content requirement in the fabrication and building of oil platforms for International Oil Companies (IOCs) and indigenous oil production and servicing firms.

The Chief Executive, LADOL, Amy Jadesimi, and the Group Executive Chairman, JAGAL Group, operators of Nigerdock, Anwar Jarmakani, who spoke separately on Monday, April 4, when they received the Controller-General, Nigerian Customs Service (NCS), Col Hameed Ali (rtd), said they have invested $600million and $500million respectively to improve on service delivery.

In response to Jadesimi’s welcome address, Ali, expressed excitement over the feats of the wholly indigenous owned facility which has so far attracted $600million in local content input. He said for an indigenous investor to take such bold step amid the risk in undertaking such ventures, the project must be appreciated by the Presidency.

“I have come and I have seen, they say ‘seeing is believing’. I will take the message to President Muhammadu Buhari whom I’m sure will be impressed if he gets to know what you are doing here. The President is interested, more so that you are the first people that are doing this kind of project in West Africa…and to say that your organisation is owned by Nigerians, it is amazing,” Ali said.

“With what you are doing here, I have no doubt that government will continue to support and encourage you. “Any government will be glad to support an entity such as this that will put us (Nigeria) at par with other industrially developed countries of the world.”

Jadesimi said the zone which has been developed into a world-class facility from a swamp, has so far generated about N16.9billion in revenue in the past 10 years.

“Over the years, we have done our best in terms of Customs revenue generation. So far, we have generated almost N16.9billion as Customs revenue,” she said, adding that more would come when the project is completed.”