Approve $13.5bn for take off of Zabazaba Deepwater Project, group tells Buhari

As Christmas gift to Nigerians, the Niger Delta Indigenous Movement For Radical Change (NDIMRC) has called on President Muhammadu Buhari to urgently approve the $13.5b earmarked for the Zabazaba Deepwater Project.

The oil-monitoring group made the call on Tuesday in an open letter to President Buhari and made available to journalists in Delta State.

The letter, entitled: “The urgent need for Mr President to give approval for the $13.5 billion Zabazaba Deepwater Project: let Zabazaba Deepwater Project be a surprise Christmas gift for  Nigerians,” was signed by its president, Nelly Emma, secretary, John Sailor and public relations officer (PRO), Stanley Mukoro.

“First and foremost, we write to congratulate the President of the Federal Republic of Nigeria, President Muhammadu Buhari, on his 75th birthday celebration and to wish him more fruitful years and wisdom to continue to pilot the affairs of the country,” the group said.

According to the group, “We are writing you this urgent letter on the need for you to do the needful now and give approval  for the $13.5 billion Zabazarba Deepwater Project.

“This is an important project and your administration should not waste further time in giving approval for its take-off.

“We want to place it on record that Agip is developing the Zabazaba field with proven reserves of 560 million barrels of oil as a standalone development in the eastern portion of the Niger Delta in water depths ranging from 1,200 to 2,400 metres.

“The main packages in the Zabazaba project include the construction of the Floating Production Storage Offloading (FPSO) units, subsea installations and drilling rigs.”

The group further noted that the “Agip-operated Zabazaba project will also set a new record in local content development as the major contractors bidding for the project have submitted competitive costs and concrete plans to fabricate and integrate over 50 per cent of the topsides of the FPSO in the country.

Mr President, from our findings, Agip plans to achieve first oil in 2020 and is determined to start execution of the project in the fourth quarter of this year.

“We urge you to give the nod for the take off of the project as it is too precious  to Nigerians.”

While lamenting that Nigerians were being sacked on a daily basis, the group held out that the Zabazaba Deepwater Project was capable of generating over eight million jobs for Nigerians, adding that “there a great hope for those who had been thrown into the labour market and other Nigerians seeking employment.”