FG Launches ‘Project 100’ To Support Indigenous Oil And Gas Service Providers

In a bid to develop next generation large-scale Nigeria oil and gas service companies through structured capacity building and policy intervention, the federal government on Thursday, launched an oil and gas intervention program tagged ‘Project 100’.

Speaking at the launch in Abuja, the Minister of State, Petroleum, Dr. Ibe Kachikwu, noted that the Ministry of Petroleum Resources was promoting ‘Project 100’ as an oil and gas industry intervention.

He added that the intervention seeks to identify, recognise and nurture wholly owned indigenous Nigerian oil and gas service providers into large scale players that will create high impact in the economy in terms of job creation, technology, development, wealth creation and local content indicators.

According to him, “The Federal Government will support the firms in the areas where they need critical government support, through the provision of support in terms of granting them import waivers among many other incentives.

“Project 100 is founded on the logic that Nigerians have the capacity to lead this industry; to build the best FPSOs, to build the best platforms, to build the power plants to run the best plants and communication companies.

“There is nowhere in the world where people go through the kind of difficulties they go through in Nigeria. The expectations are that because I believe so much in you and you believe so much in yourself, we are working together as a nation and people, we can deliver the sort of results that are enunciated here today and create work.

“It is not a privilege; it is not a favour, it is your right. Deliver the best quality work results so that those who gave you the opportunity would be able to go home and feel very happy.

“Even if all we do is create 10 Korean-sized firms, we would have done a lot.” he said.

The Minister further advised beneficiaries to fight to be the best and strive to get the best contracts in the industry as it was their entitlement.

On his part, the Executive Secretary, Nigerian Content Development and Monitoring Board(NCDMB), Engr. Simbi Wabote, stated that ‘Project 100′ is an initiative of the Ministry of Petroleum Resources alongside the NCDMB, to look holistically at 100 wholly indigenous oil and gas companies and nurture them to the next level.

“We would enhance their capacities, support them financially through the NCI Fund and help them find opportunities in the industry, in collaboration with the NNPC and it’s subsidiary, NAPIMS.

“It is in our interest as a country to support companies operating in the oil and gas industry, so they can create jobs for our teeming population” he remarked

Engr. Wabote noted also, that the companies were selected transparently from the NOGICJQS platform with the assistance of KPMG, adding that there would be another phase of selection in the coming weeks.