The Nigerian Content Development and Monitoring Board (NCDMB) has applauded ESSO Nigeria Limited for breaking ground on a new $23 million permanent shorebase facility at the LADOL Deep Offshore Logistics Base in Lagos, describing the project as a major boost to Nigeria’s emergence as a global oil and gas logistics hub.
The facility, which includes an administrative building, warehouses, and storage areas, is being developed by ESSO Nigeria, an affiliate of ExxonMobil.
Speaking at the groundbreaking ceremony , NCDMB Executive Secretary Engr. Felix Omashola Ogbe, represented by his Senior Technical Adviser Engr. Austin Uzoka, congratulated ESSO and LADOL on the initiative.
He praised LADOL’s consistency and forward-looking approach over the years.Ogbe situated the project against the backdrop of the ongoing global logistics crisis caused by instability in the Middle East, which has driven up costs worldwide.
He noted that LADOL’s development provides Nigeria with a credible deep offshore logistics alternative, strengthening the country’s supply chain resilience.
He drew parallels between the project and the completion of the Dangote Refinery, stating that Nigeria’s oil and gas supply chain is now significantly stronger than it was a decade ago.
The NCDMB chief urged ESSO to adopt a front-end-loaded payment structure in its contract with LADOL to enable timely project delivery without exposing the local partner to high-interest bank loans.
“Pay LADOL more and make it front-end-loaded so they can finish this on time without going to the banks at cut-throat interest rates,” he said.
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Ogbe reaffirmed the Board’s commitment to deepening capacity in the upstream supply chain and charged ESSO to maximize the use of Nigerian capabilities in executing the project.
ExxonMobil affiliates’ Chairman and Managing Director, Mr. Jagir Baxi, described the investment as a key milestone in ESSO’s 70-year partnership with Nigeria.
He said the shorebase will enhance deepwater operational capabilities, with structures to be built predominantly by Nigerian companies, thereby creating jobs and developing local expertise in engineering, construction, and commissioning.
The event was attended by representatives from the Bank of Industry, LADOL management led by Dr. Amy Jadesimi, and officials from the Nigeria Customs Service, Nigeria Immigration Service, and other government agencies.
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