IFDC signs $17.5bn projects financing with Bayelsa

Bayelsa State government and the International Finance and Development Corporation (IFDC), have signed a Memorandum of Understanding, MOU, to invest $17.5billion key projects in the state. The amount represents the preliminary estimate for five different key infrastructural projects in parts of the state. The  USA-based IFDC is mobilising the funds and resources to invest and finance, a 10 MTPA capacity LNG project that will run into 35,000 to 45,000 barrels per day capacity GTL project, 500 MW Gas of Power plant and Deep Sea Port and Port city development projects in the state.  The President and Chief Executive Officer, CEO, IFDC, Mr. Kazi H. Ahmed, it was learned, appointed Michael Hartman, from Germany as representative of IFDC, to tidy up the investment plan and sign the agreement with the Bayelsa State government.

Mr. 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 the 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 a witness.

Governor Douye Diri, expresses excitement for the projects and assured the investors of the government’s preparedness to provide the enabling environment for the projects to commence immediately. 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.