NCDMB, NNPC invest in N10.5bn brass petroleum products terminal in Nigeria
The Nigerian Content Development and Monitoring Board (NCDMB), the Nigerian National Petroleum Corporation (NNPC), and ZED Energy signed shareholders agreement on the construction of Brass Petroleum Products Terminal (BPPT), to be located at Okpoama, Brass Local Government Area, Bayelsa State.
The estimated cost of the project is N10.5bn (Ten Billion, Five Hundred Million Naira). NCDMB and NNPC own 30 percent respectively while ZED Energy, a private firm that holds 40 percent and would operate the terminal upon completion. The terminal would make refined petroleum products available at riverine communities of the Niger Delta at the standard prices, discourage the operations of illegal refineries and create job opportunities for citizens of the Niger Delta and other Nigerians.
The terminal would serve as a strategic reserve for the country as it would hold up to 50 million litres of products. It would also serve as a two-way product jetty - land and marine trucks loading of automotive gas oil (AGO), premium motor spirit (PMS), dual purpose kerosene (DPK) and aviation turbine kerosene (ATK).
According to the promoters, the project would enhance energy security in the Niger Delta and is expected to create 1000 direct jobs during construction and another 5000 direct and indirect jobs during the operations phase, because of the nature of downstream operations to create huge employment opportunities.