United nations (UN) report on oil crises ready next year

The report of the United Nations' (UN) findings on the problems rocking the oil and gas, maritime and other sectors will be ready in the first quarter of 2017, Lagos Deep Offshore Logistics Base (LADOL) Managing Director Dr Amy Jadesinmi has said.

She told The Nation that the UN was relying on the Business and Development Sustainable Commission (BDSC) - to get the findings ready as well as map out strategies on how to facilitate growth in the petroleum and allied sectors.

Jadesinmi said the UN was keen on solving problems affecting downstream and upstream sub-sectors of the petroleum industry and other areas. The global body wants to see women playing important roles in this regard.

Jadesinmi said: ''The findings will be finalised in the coming months and will take the centre stage in the Commission's report, which aimed at spurring growth of privately-driven initiatives in the oil and gas, maritime and others.The Commission was launched in January 2016 by UN, to advance the world's transition to a more prosperous and inclusive economy. Though the findings were yet to be released, significant growth opportunities in the petroleum and other sectors of the economy are going to be found in the findings.

"In the findings, we will identify major financing challenges, as well as potential solutions. The solutions include prioritising the long-term investments in private sectors, making businesses, governments and civil societies create enabling environment, with a view to provide sustainable growth.''

The LADOL chief, a participant at the just-concluded UN's General Assembly in the United States, said the Commission is key to the growth agenda initiated for the development of the global economy by the United Nations.

She said sequel to the UN's high- level panel on Women Economic Empowerment Report released on September 22, 2016, the International Commissioners Forum, in which she was a participant, was organised to discuss modalities on how to engender growth in the oil and gas, maritime and other sectors.

The Commission's vision, Jadesinmi said, is in line with that of LADOL, which seeks to develop investment opportunities in the nation's oil gas, by partnering with Samsung Heavy Industries (SHI) Korea to build a Floating Production, Storage and Offloading (FPSO) vessel and fabrication yard for the operators.

According to her, LADOL has built a $500million Free Trade Zone, urging other operators to leverage the idea known as Sustainable Development Goals (SDGs) to record success.

She said Nigeria is leveraging its potential to be the hub of oil and gas business in West Africa, stressing that LADOL was working to fulfill the dream.