The Nigerian Immigration Service (NIS) has given high commendation of the the expatriate quota policy being adopted by the Lagos Deep Offshore Logistics (LADOL) Free Zone (LFZ), describing the company as a model for economic development in Nigeria. The primary objective of the LADOL Free Zone is to provide logistical, engineering and other support services for deep water offshore oil and gas exploration and offers clients a number of benefits including duty free importation of cargo, federal, state, and local government tax exemptions, and onsite clearance of goods by customs among others.
The zone is owned one hundred percent by indigenous shareholders, and offers one hundred percent repatriation of capital, profits and dividend.
The team was welcomed by LFZ Managing Director, Dr. Amy Jadesimi, who gave a presentation that began with the beginning of the base to its current phase two development, and highlighted LADOL’s future aspirations.
NIS’s management team is headed by Deputy Comptroller-General Mohammed Babandede, who gave the commendation in Lagos upon the team’s maiden tour of the Floating Production Storage and Offtake (FPSO) site. The site is also home to the legendary Egina vessel currently in the works.
The project is valued at $3.8 billion dollars and is being hailed as the first of its kind in Sub-Saharan Africa. The development is being constructed at theLFZ by Korean based-Samsung Heavy Industries (SHI), with LADOL acting as local content partner.
Babandede expressed his approval of the high number of Nigerians compared to expatriates presently working on the project, which he surmised was nothing short of a 60-to-one ratio.
“I am happy that I came. I am also happy with the team I met on ground, which shows clearly that you are creating employment for Nigerians in the most cost-effective manner. This is not what we’ve heard that your zone is flooded with expatriates. We have come and we have seen. They say seeing is believing. On behalf of the Honourable Minister of Interior and my Comptroller-General, we are ready to collaborate with you in your quest to move the country forward technologically,” he said.
With this recent attention on the expatriate quota in LADOL, a light has been shined on the Nigerian oil and gas sector and keeping jobs in Nigeria. Whereas many have found the oil and gas sector in Nigeria dominated by expatriots being imported to fill important positions in the country, LADOL is making good use of the brilliant local talent and offering the capable engineers the same opportunities afforded to expatriots in the same positions. It is another vital step in moving the Nigerian economy forward.