Rivers
Brass LNG Backs Nigerian Content Act
Mr Vincenzo Di Lorenzo, Managing Director of Brass Liquefied Natural Gas (LNG), has said that the company is in support of the Nigerian Content Act.
President Goodluck Jonathan signed the Bill into law on April 22.
Lorenzo spoke at a workshop on the Nigerian Content Act organised by the LNG and the Nigerian Content Development and Monitoring Board (NCDMB) in Port Harcourt on Thursday.
He said the company would respect and implement the spirit and letter of the Nigerian Content Law.
Brass LNG is a company set up to produce liquefied natural gas from most of the associated gas that is being flared in the course of crude oil production in the Niger Delta region.
It is projected that at the peak of its production, more than 12,000 jobs will be provided for Nigerians.
The managing director said, “Our support is not only obligatory as good citizens.
“It derives from the foundation of Brass LNG’s cherished values of fairness, hard work and commitment towards making a positive impact on the lives of those we relate with.”
Lorenzo said that 500 Nigerian workers and 25 expatriates were engaged for early site works at the Brass LNG in 2009 and that the work took 2.5 million hours to be completed.
He said that in December 2007, the company received certification from the Nigerian Content Development Division of the NNPC for three job packages, running into millions of naira.
“These are the early site works, tanks, ITT and the utility offsite packages”.
“We have received 10 other certifications from Nigerian Content Development and Monitoring Board covering an entire range of jobs for this project,’’ he said.
In his speech, Mr Emeka Nwapa, Executive Secretary of NCDMB, said he was impressed by the degree of mobilisation and enthusiasm shown by investors within and outside the country since the act came into effect.
He said, “While several Nigerians are investing and forming partnerships to take advantage of the opportunities shown by the act, others see the content as a way of fronting for foreign companies.”
Nwapa said the board would soon commence a verification exercise to capture the ownership profile and equipment status of the companies operating in Nigeria.
He explained that verifying the ownership profile and equipment status was a pre-qualification requirement identified in the Act.
Rivers
Julius Berger reiterates commitment to Bodo- Bonny Road Project
Julius Berger Nigeria Plc has reaffirmed its steadfastness in its mission to delivering transformative infrastructure projects that align with Nigeria’s developmental priorities.
In a statement issued by the leading construction firm and signed by its Head, Corporate Communications, Mr. Emeiseifa James Agama, Julius Berger noted that, “For over 50 years, we have partnered with the Federal Government, communities, and stakeholders to deliver transformative infrastructure solutions with professionalism, transparency, and adherence to the highest standards”.
“The Bodo-Bonny Road project exemplifies our unwavering commitment to progress, despite significant operational and financial challenges. Extreme inflation, rising input costs, and FX volatility necessitating the declaration of Force Majeure and the suspension of works in November 2023. Nevertheless, Julius Berger resumed work in good faith in August 2024, five months before the formal execution of the contract, following a verbal agreement with the Federal Ministry of Works to adjust the contract value from NGN200 billion to NGN280 billion”.
“Although inflationary pressures on materials have risen between 200% and 600% (and even higher in some cases), the relatively modest adjustment to the contract value was a welcome step. Julius Berger’s acceptance at the time reflects our commitment to addressing challenges impacting projects and fostering mutual agreements with the Federal Government to ensure their successful delivery”, the statement further read.
Julius Berger further noted that, “The absence of a tripartite funding agreement between the Federal Government, NLNG and Julius Berger continues to impact payments, requiring Julius Berger to pre-finance significant portions of the project. Despite these challenges, we have continued to make progress, including through the yuletide season, reaffirming our commitment to delivering this critical national asset”.
“It is important to note that Julius Berger is the only contractor to have taken on this project in a challenging terrain previously abandoned by other contractors. Connecting Bonny Island to the mainland for the first time underscores our commitment to innovation and national development.
We remain focused on fostering constructive engagement with all stakeholders to ensure the timely and successful delivery of the Bodo-Bonny Road, a project critical to Nigeria’s economic and social advancement and a cornerstone for the long-term development and prosperity of the Niger Delta”, the statement read.
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