Former President of Nigeria, Dr. Good luck Ebele Jonathan has commended ERASKCORP Nigeria Limited for bringing the company down to Bayelsa State maintaining that the establishment of the company will improve the internally generated revenue of the state.
Speaking on Thursday in Yenagoa during the unveiling of the ERASKON products, Jonathan stated that the company when operational will also generate more employment for the people especially the locals. He advised that the company should employ more of its staff from the host community.
Lamenting that the oil industry supposed to positively impact on the host communities was not doing so, he narrated that the oil industries will claim they have invested $1 billion in the local economy meanwhile, only $50 million may have entered the local economy while the rest would be used to import items and support industries outside Nigeria.
He said “We need to do something about local content. We must encourage other smaller industries. When we do that, we can create job for our people. This he said will add value to the local economy and with this project, I pray that more companies will come to Bayelsa State.
At the ground breaking venue where he laid the first block for the industrial park to commence, the former president commended the host community Gbarain, stating that in the next 10-15 years, the area will turn out to be the most developed part of the state.
Also speaking, the executive secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote said the launching of ERASKON Lubricant Products marks another very important milestone in the push to deepen local content and reduce importation of products that can be can be produced locally.
He disclosed: “Nigeria currently consumes about 250million liters of engine oils per annum. The in-country blending capacity has remained constant at about 150 million liters showing a shortage of about 100million liters.
“Our decision to enter into partnership with ERASKON Nigeria Limited is in line with our mandate and the mutual objectives of developing local manufacturing capacity, providing employment and increasing local content participation across the value chain in the Nigerian oil and gas industry and its linkage sectors.
“When completed, the production of approximately 64,000 litres per day of lubricants from the ERASKON facility will represent one of the largest in the country churning out more that 20million liters of lubricants in a year, enough to serve Bayelsa State and many neighboring states.
Speaking earlier, Maxwell Oko, executive chairman of ERASKORP Nigeria Limited said the company will focus on the production of 64,000 liters of lubricants and chemicals per day will kick start full operation in December 2022.
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By Preye Okah, Yenagoa