Home Business Nigerians in diaspora, American investors pledge $17.5bn investment in Bayelsa

Nigerians in diaspora, American investors pledge $17.5bn investment in Bayelsa

by Business News Report

A Bayelsa State born US based Enieye Tugba-Wilson has led American investors to Bayelsa in which  a Memoranda of Understanding (MoU ) was signed between the state government and some America investors, According to the MoU, the International Finance Development Corporation would be investing $17.5 billion for the oil and gas related projects, deep sea port and gas to power plants in the state. Tugba-Wilson pointed out that IFDC studied the investment potentials of the state before they agreed to come for the MoU. He said his consulting company based in the USA had envisioned that instead of wasting the gas “it is better to collect the gas which will also help the state achieve their green house goals towards a clean and healthy Bayelsa and not pollution and will also generate massive revenue and jobs for the state.”

“Bayelsa is a blessed land and we need to expand possibilities for the people,  so the people need to support and encourage the Governor Douye Diri for him to succeed,” he said. Meanwhile, the Bayelsa State government and the International Finance & Development Corporation (IFDC) have signed a memorandum of understanding for investment in five key infrastructural projects in different parts of Bayelsa State. The USA-based IFDC is mobilising funds and resources to invest and finance a  10 MTPA capacity LNG project, 35,000 – 45,000 barrels per day capacity GTL project, 500 MW Gas to Power plant and Deep Sea Port and Port city development projects in the State. The preliminary estimated total project cost is $17.5 billion. The President and CEO of IFDC, Mr. Kazi H. Ahmed, mandated Mr. Michael Hartman, from Germany as representative of IFDC to tidy up the investment plan and sign the agreement with the Bayelsa State government.

Hartman who is the chairman of Lupine, accompanied by Mr. Michael C. Keeling, the Legal Advisor of IFDC and owner of Keeling Law Offices in the USA, US-based Bayelsa-born facilitator, Mr. Enieye Tugba Wilson and Managing Director of Viv Limited, Viv Tonwe Pela, were all part of the deal that will create huge investment and jobs opportunities in the state.

On the part of Bayelsa State government, the Commissioner for Mineral Resources, Dr. Ebieri Jones and the Attorney-General and Commissioner for Justice, Mr. Biriyai Dambo, SAN signed the MoU with the Deputy Chief of Staff, Dr. Peter Akpe, standing as witness. The facilitator, Mr. Enieye Tugba Wilson, who led the team of the investors, said the five projects would change the stories of Bayelsa State with huge revenue for the state and creation of about minimum 40,000 jobs in the state. The Commissioner for Mineral Resources, Mr. Ebieri Jones, had earlier led the IFDC visiting team to meet with the governor, where they briefed him on the investment opportunities. Diri, was said to have been excited at the projects and assured the investors of the government preparedness to provide the enabling environment for the projects to commence immediately.

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