Nigeria to get its first dry-dock - CNBC Africa

Nigeria to get its first dry-dock

Western Africa

by Tendai Dube 0

There is one in South Africa and a smaller one in Ghana. Photo: Wikimedia

Nigeria's Rivers State Entrepreneurs and Investors Forum has embarked on a road show in a bid to attract investors and raise funds to build a 1.5 billion dollar dry-dock.

The dry-dock was originally meant to be in Lagos but was criticised by the Niger Delta youth and the private sector in Rivers State.

"The dry-dock basically is going to service the larger tanker vessels, vessels that service the LNG (liquefied natural gas) and the oil industries in the country and in Africa because we have just about two of those kind of dry-docks in Africa,” said Ibifira bob-Manuel, President of Rivers state Entrepreneurs and Investors Forum.

He adds: “The best location for a dry-dock in the country that is going to service an LNG [market] that is situated in River State - has to be in River State”.

“You have one set in South Africa and you have a smaller one in Ghana,”

He says the project is a major investment opportunity for the country, for the state and indeed for investors.

"The project is not a federal project - it’s an opportunity for the private sector to actually invest into the oil and gas,” said Bob-Manuel.

LNG vessels are currently being serviced outside of Nigeria where, as far as South Africa and the Middle East and Asia, so they will also benefit from this project.

Bob-Manuel said it knows that if it facilitates this process and it materialises, it will result in the vessels getting maintained in the country- cutting back man-hours and improve on productivity.

"LNG have actually embarked upon a massive skill drive and that project exposed the company to send out about [between] 500 to 1 000 different youths from different parts of the country.

“Currently LNG is building about six new vessels with two South Korean companies”, exposing the youth to other places in the world.

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