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Enelamah assures of amicable solution to Ladol, Samsung dispute

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Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah has   promised an amicable resolution of the ongoing dispute between Samsung Heavy Industries Nigeria (SHI) and the management of Lagos Deep Offshore Logistics, (LADOL).

Okechukwu Enelamah, Minister of Industry, Trade and Investment

Speaking during a courtesy call by the South Korean Ambassador to Nigeria, H.E. Maj. Gen. In-tae Lee (Rtd.), he said all parties in the dispute were already being engaged by the Nigeria Export Processing Zones Authority (NEPZA) and he believes the engagement process will restore normalcy.

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“We will work with you, Samsung, NEPZA and all the parties involved to resolve this amicably. We have an excellent relationship with South Korea and we will like to continue that,” the Minister  said, pointing out that, “successful resolution of problems generates goodwill.”

Earlier, Ambasssdor Lee had sought the intervention of the Minister in the dispute.

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“Korean companies that are eager to invest in Nigeria are watching the dispute closely and it is in the best interest of both countries to get this behind us.”

LADOL, operators of the Egina Floating Production Storage and Offloading recently sacked SHI from the free zone over expiry of its operating licence. The Managing Director of LADOL, Dr Amy Jadesinmi had said: “Samsung failed to meet the minimum standard required to qualify for an Operating License in a Free Zone, their license has therefore expired without renewal. Samsung’s Sublease Agreement has been duly terminated.”

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