…Gov. Dickson grants firm two years tax waiver, other incentives
Bayelsa State government’s effort to attract investors got a big boost on Wednesday with the siting of a multi-billion dollar fertiliser plant in the state.
Executive Vice Chairman of the Brass Fertilizer and Petrochemical Company Ltd, Chief Ben Okoye, said the 3.6 billion dollars fertiliser plant is expected to generate 15,000 jobs during the construction phase of the project and 5,000 permanent employment opportunities when completed.
Chief Okoye announced this while receiving the Certificate of Occupancy, (C of O) for the land allocated for the construction of the plant at Brass Island in Brass Local Government Area of the state from Governor Henry Seriake Dickson in Government House, Yenagoa.
A Government House press release signed by the Chief Press Secretary to the governor, Francis Ottah Agbo, noted that the Executive Vice Chairman, who highlighted the components of the fertiliser plant, explained that it would accommodate Methanol, Urea Ammonia, Gas Processing Plants as well as a 35-kilometre pipeline project.
Describing the project as the single biggest private sector company in Africa with a one billion dollar equity fund, Chief Okoye canvassed the total support and cooperation of the government towards the realisation of the project and expressed optimism that it would transform the state’s economy and that of the country as a whole.
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“We are here today because we have achieved 95 per cent in terms of funding and equity for the project. You will agree with me that raising 3.5 billion dollars in this clime is not an easy task. And this is the first private sector investment in Africa that has attracted one billion dollar equity fund,” Okoye said.
Speaking shortly after presenting the Certificate of Occupancy to the company officials, Governor Seriake Dickson assured the management of his administration’s readiness to sustain the existing conducive operating environment for businesses to thrive in the state.
Governor Dickson, who announced a two-year tax holiday for the company, explained that the gesture was aimed at facilitating the early commencement of the much desired investment.
The governor re-echoed his call on the Federal Government, the Nigerian National Petroleum Corporation, NNPC and other investing partners to urgently bring the Brass Liquefied Natural Gas project on stream.
His words: “We are delighted having you here and we appreciate all the efforts you have been making to raise money to fund this very ambitious project. I thank you for your continued interest in our state and for foreseeing what a number of people have not seen, which is that Bayelsa is Nigeria’s best kept investment secret.
“On behalf of the government, we assure you of our support in terms of providing a conducive operating environment, which is what I have just demonstrated with the signing and presentation of the Certificate of Occupancy over the land you are interested in using to start up this all-important project.
“To further encourage you, I have also directed a waiver of all fees for two years so that in the next one or two years, when the project must have started, you will then pay up all fees to the last kobo. We want you to put that money into the project and get it started,” the governor stressed.
