President Muhammadu Buhari has commended the Lagos Deep Offshore Logistics (LADOL) Base for their contribution in reducing youth unemployment in the country.
Speaking at the State House, Abuja on Thursday while receiving the Chairman and Management of LADOL on a courtesy visit, President Buhari said he was happy with the company for creating jobs for Nigerians, especially the youths.
resident Buhari also commended the company for taking advantage of the pro-business policies his administration put in place with the aim of bringing domestic and direct foreign investment, which he said are yielding prosperity to the people of the country.
“Your competitive and aggressive activity has brought you success. I am pleased that you investing in a critical area, the oil industry, in which I have developed interest. I am happy you are training Nigerians and giving them respectful jobs. What you are doing shows that whoever tries will succeed.”
The Chairman and Chief Executive of the company, Chief Oladipo Jadesimi said they had come to thank President Buhari for creating an enabling environment and anti-corruption regime that have enabled their business to create a 10 billion Dollar investment and 50,000 new jobs.
Speaking also, the Managing Director, Dr. Amy Jadesimi, said that LADOL’s investment targets attracting local and international companies that will help reduce the cost of off-shore support services.
According to her, “policies initiated by this government by abrogating monopoly, thereby allowing IOCs (International Oil Companies) to use any facility in Nigeria, yielded immediate positive result for the Nigerian economy by reducing costs by 50 percent.”
The Managing Director said that in the near future, seven more FPSO (floating production storage off-loading) units will be built in Nigeria, bringing USD 100 billion investment, thousands of jobs and a diversification of the economy due to 70 per cent local content.
Jadesimi said that LADOL was determined to turn Nigeria into a hub for logistics and heavy lifting in the sub-region by providing non-stop, 24 hours, seven days a week support services in the Lagos area.