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USTDA hails LADOL as haven for investment

The United State Trade and Development Agency (USTDA) has commended the Lagos Deep Offshore Logistics Base (LADOL) as a safe haven for investment and having great capacity for job creation in the African sub-region.

This is coming just as the Federal government as well as Lagos and Oyo states governments have indicated interests in collaborating with the private oil and gas services yard in undertaking trainings and skills development for the youths.

Acting Director of USTDA, Mr. Thom Hardy, who expressed delight at the massive private investment when he led a five-man delegation to the LADOL Free Trade Zone in Apapa, Lagos, Friday, said the base would no doubt add value to youths development efforts of the Nigerian governments at various levels.

LADOL is currently playing host to the integration of a $3.8billion oil and gas exploration platform otherwise known as Egina project which has been described as first-of-its-kind in the Sub-Sahara Africa.

The Egina Floating Production Storage and Offloading (FPSO) project is being undertaken by Korea-based Samsung Heavy Industries (SHI) for TOTAL Oil Exploration, with LADOL acting as the local content partner.

Speaking with journalists after the facility tour, the American envoy said his team was on a fact-finding mission to ascertain how businesses were carried out in Nigeria as to seek ways of encouraging American investors to invest in the country.

Click here to read more at nigeriancurrent.com

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