‘$1.5Billion Badagry Dockyard not owned by NLNG’

The Chairman, Badagry Ship Repair and Maritime
Engineering Company (BSMEC), Dr. Taiwo Afolabi said
yesterday that the $1.5 billion dockyard project in

Badagry, Lagos, is owned by the company and not
the Nigeria Liquefied Natural Gas (NLNG) Limited.
Afolabi, who doubles as chairman of a participating
company that formed the consortium comprising
Sifax Logistics and Marine Services Limited, was
responding to the ongoing controversy trailing its
recent decision to site a $1.5 billion dockyard project
in Lagos State.
Speaking in Lagos on behalf of the consortium,
Afolabi said: “BSMEC is the sole owner of the Badagry
Dry Dock Project and no one else. BSMEC is made up
of five different successful Nigerian companies who
came together as core investors to form Badagry
Ship Repair and Maritime Engineering Company,
which is a joint venture between Sifax Logistics and
Marine Services Limited, Energy Nature Limited,
GMT Energy Services Limited, Japaul Oil and
Maritime Services plc, and SIVC Infrastructure DMCC
(Sahara Group Limited).
“Nigeria LNG is not a part of the consortium and is
not an investor in the construction of the dry dock
project.
To be clear, the Badagry Dry Dock will be used for
the maintenance of a wide range of oil and gas
related vessels, including very large crude carriers
(VLCCs), offshore drilling rigs, offshore support
vessels, in addition to large LNG carriers.”
The dockyard is also planned to be a hub to be used
for dry docking vessels from other West Africa
countries, he affirmed, saying the choice of location
was made on a purely business interest basis, taking
into account several factors considered important to
investors.
The project is in line with the government’s drive for
Nigerian content and will create capacity for Nigeria
and help address capital flight, he said.