Jonathan Relocates $500 Million Project From Lagos To Bayelsa

President Goodluck Jonathan has ordered the relocation of a $500 million port project from Lagos to Bayelsa. 

THE CITIZEN reports that the president's directive was contained in a one paragraph letter was dated April 27, 2015, and signed by Nigerian Port Authority's General Manager (Capital Project), A.R. Mohammed, on behalf of the Managing Director.

The letter read: 

Re: Joint Venture Partnership with Samsung Heavy Industries for the USD$500 Million development of fabrication and integration yards for EGINA and Future Projects. 

Please, be informed that Mr President has via PRESS/S9/MT/212 of April 20, 2015 approved that the FPSO (Floating Production Storage & Offloading) project can be located at Agge, Bayelsa State when the facilities to handle such operations are developed. In addition, the project can be conveniently located at any dedicated Oil and Gas Terminal”.

The management of LADOL Integrated Logistics, the company handling the project has described the directive as "shocking" and out of tone with the agreement it entered into with its technical partners and the federal government.

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