BGAM Services first recipient of Local Content Fund, acquires security vessel

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has inaugurated a new security vessel, MV Tamuno-Dein II, acquired by BGAM Services Limited, the first oil and gas company to access the Nigerian Content Intervention Fund (NCI Fund).

The ceremony was performed at the weekend at the Naval Shipyard, Port Harcourt, Rivers State. MV Tamuno-Dein II is a multi-role ballistic security vessel, with protective machine gun panels, electronic fuel monitoring system and deck command centre for security personnel. It would work with the Nigerian Navy to secure offshore oil and gas operations.

In his address, the Executive Secretary hinted that BGAM Services benefitted from the fund because it was faithful in its contributions to the NCDF, kept its accounts correctly and met the corporate governance requirements of the Bank of Industry (BOI). He charged BGAM Services to repay the loan as planned and expressed optimism that other companies would benefit from the fund in the coming months.

Source: THIS DAY

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