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How to Transform Nigeria for Economic Growth in Three Years – By LADOL Boss

LadolNigeria’s vast oil and gas sector has the potentials to transform the country economically within three years, by tapping into the opportunities offered in the industry to train the youth for gainful employment.

This was the submission of the managing director of the Lagos Deep Offshore Logistics base (LADOL), Dr. Amy Jadesimi, while speaking at a three-day Nigeria Economic Summit which held in Lagos from March 7th-9th 2016.

Dr. Jadesimi was one of the guest speakers at the event put together by London-based publishers of The Economist magazine, which held at the Intercontinental Hotel, Victoria Island, under the topic, The Dawn of a New Era: Fostering the skills for a prosperous future.

According to her, the key to driving investment in Nigeria towards economic growth could best be achieved by recreating local demand for skills through the training of Nigerians for gainful employment opportunities.

She said her organization LADOL, had since leveraged on this by investing in the training of Nigerians thereby creating over 50,000 both direct and indirect jobs, using the Local Content law model.

She pointed out that future prosperity for a country begins when Nigerian investors imbibe conscious efforts to add values by seeing the need to invest in human capacity development as a major key towards achieving economic growth.

“If you look at just one area of the business we are doing at LADOL- that is, operating deep offshore logistics support…that is drilling and production offshore logistics support operations, doing that at LADOL is actually 50% cheaper than doing it in any other existing facilities or anywhere in West Africa.

“That means we are providing cost savings in hundreds of millions of dollars. And that is how you drive prosperity by adding value. You make Nigeria an attractive place to invest and to do business.

“It is the sure way to transform Nigeria, not in terms of fifty years, but in a short period of three years, simply by adding value through human capacity development.

“We must put a substantial budget on ground to ensure training of Nigerians, not only because that is the right thing to do, but because now that the business is certain, that is the key way to lower cost” she said.

Dr. Jadesimi further pointed out that in the next five years, the projects being done at LADOL will be cheaper than doing them anywhere in the world. “So that creates an incentive for many other people to come to the market. That is how you create the hub for West Africa”.

The LADOL boss also disclosed that her organization was embarking on the setting up of a training school which will pool people from all over the country.

“These people will be trained and get certification to enable them work inside the free zone or outside. We are doing that because for us to be successful, we need other people in the market, as we can’t be an island.

“The integration we are doing at LADOL puts together pieces of vessels, integrate them into one hall and then we ship it out of Nigeria”, she said.

-Alex Akao

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