A Review of the Nigerian Energy Industry

Foreign investors excite Koko residents

Emma Amaize

WARRI- THERE was excitement in Koko, headquarters of Warri North Local Government Area of Delta State, popularly remembered for the toxic waste saga, following the arrival, Monday, of foreign investors from Saudi Arabia and India to inspect the sites for the construction of $16 billion petrochemical and fertilizer plants in the community.

The investors who also visited the Nigeria Ports Authority, NPA, Warri were led to Koko for the inspection by Governor Emmanuel Uduaghan, who explained that the petro-chemical and fertilizer plants were major Federal Government projects in the state, expected to create 500,000 direct jobs and other indirect jobs on completion.

A delighted Oloraja of Koko, Chief Victor Nana, who thanked the investors for choosing Koko for the two projects said, ‘’I can see that your coming is a sign of good things to come. This is an indication that something good is about to happen in Koko and we are anxious to see the
part that we can play in assisting you”.

“The community shares in my happiness and I know your coming is good. We look forward to seeing you again because we believe that it will be rewarding. I see the hand of God in it and this place would be a great place if we do our part’’, he told the investors.

On his part, Governor Emmanuel Uduaghan expressed delight at the visit of the investors, and commended the federal government for choosing the state for the companies, saying a major priority of his government was how to empower the teeming army of the unemployed youths.

The governor also talked about the conducive investment climate that exists in the
state and the Niger Delta region, disclosing that some investors have expressed their willingness to come and do business in the state.

Government, he added, was determined to finance the projects and pledged to give the investors
all the necessary assistance to ensure that they come on stream.

The investors were briefed at the Delta Ports on the availability of facilities that would support the multi-billion dollars investments by the Warri Ports Manager, Obuneme Onuenyenwa, who told them that Delta Ports have the capacity to handle different kinds of shipping, but lamented that the ports were underutilized.

At the moment, he said there was “increased confidence” to do business in Warri Ports and called on investors to seize the opportunity to maximize the benefits, as ‘’our future is bright and there are great potentials in Warri Ports’’.

The ember representing Warri Federal Constituency at the National Assembly, Hon Daniel Reyenieju, spoke on the benefits of the project, saying that the fertilizer plant would turn around the fortune of the state and the region.
The lawmaker implored the youths to be cooperative for the investment to flourish, adding that the federal and state governments were particularly interested in the success of the projects, which would drive economy growth.

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