Home Energy Move towards renewables gaining momentum – LADOL

Move towards renewables gaining momentum – LADOL

LADOL MD says ‘ AfCFTA’ ‘ll spur devt , industrialization in the continent

The Chairman of Lagos Deep Offshore Logistics, Mrs Ladi Jadesimi, has said the shift towards cleaner sources of energy and renewables is gaining momentum.

Jadesimi was quoted in a statement made available to Daily Champion as saying that the share of crude oil in global energy consumption was declining.

“Huge pressures continue to mount to move to cleaner alternative and renewable energy. At the same time, the maritime sector is offering a wide range of new business opportunities from clean energy to new modes of transportation, logistics and agriculture – maritime sector cuts across almost all other sectors,” he said.

Jadesimi, who made the statements while chairing the 2019 Nigerian Shippers’ Council Annual Stakeholders Appreciation Night in Lagos, said, “The maritime industry holds the key to the sustainable economic development of Nigeria by developing the full the potential within the sector across a range of industries”.

“Whatever we do must be underpinned by strong local content – in today’s world, that starts with Nigerians owning, engineering and building the ships we use.

“It is, however, demonstrably the case that we have quite a large financial and capacity gap to fill for Nigerians to be in a position to own most of the vessels plying through our waters. Of course, we are all aware of the particular challenges militating against expansion of vessel ownership by Nigerians.”

Jadesimi said the number one hurdle was access to long-term finance at a reasonable price.

“Nonetheless, the opportunities here are considerable and more than sufficient to support the needed investment,” he added.

According to him, Nigeria is ideally placed and suited to become the ship building, repairs and maintenance hub for Africa.

He said, “This will go hand in hand with shipbuilding. Our local market alone can justify the investments and new facilities needed. This is also an industry that has a significant multiplier effect on long-term job creation.

“We can just imagine the enormous positive socio-economic impact of developing vibrant wide spread shipbuilding capacity in Nigeria along with manpower training and leading to gainful employment in the hundreds of thousands of Nigerians.”

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