Dangote to pick local partner in refinery construction

The management of Dangote petroleum refinery has agreed to select competent Nigerian vendors that will participate in the construction of the plant from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), the database of capacities in the oil and gas industry managed by the Nigerian Content Development and Monitoring Board (NCDMB).

The Chief Operating Officer, Dangote Refinery Project, Mr. Giuseppe Surace, stated this at the technical meeting held between top officials of the company and NCDMB at the refinery project site in Lekki, Lagos State last week.

A statement from the NCDMB, yesterday, said the Executive Secretary NCDMB, Engr. Simbi Wabote, affirmed that there were many advantages in patronizing the local market, adding that “Nigerian companies will get the first right of refusal. We will procure anything that is available in Nigeria.”

The COO confirmed that there were several Nigerian content opportunities in the company’s refinery and gas gathering projects but interested companies must submit competitive bids and have technical capabilities.

He further explained that the project was a private investment, hence the strategy was to get the best quality anywhere in the world at the most competitive price.

On funding, the executive secretary said the board had obtained all necessary approvals to relaunch the Nigerian Content Intervention Fund (NCI Fund). He said the pool available for lending to qualified oil and gas players had been increased from $100 million to $200 million to ensure that more deserving companies benefited.

He reiterated that NCI Fund would be disbursed directly by the Bank of Industry (BOI) at eight percent interest rate and repaid within five years.

Source:
Daily Trust