President Yahya Jammeh on Saturday officially commissioned the modern and magnificent Gam-Petroleum storage facility in Mandinary village, Kombo North, Western Region.

The US$50 million storage facility, the first of its kind in The Gambia, is in fulfillment of government's desire to relocate the storage facility at the Half-Die in Banjul for safety and environmental reasons, as well as to increase the national capacity for the bulk storage of various types of gas and petroleum products. The facility is apparently the single largest in the whole of the sub-region. Nigeria has more facilities of this kind, but none is as big as this one.

With 17 fuel tanks, the facility has a storage capacity of 51,000 Metric tones of heavy and light fuel oil as well as gas and will afford the Gambia the opportunity of being able to store at any given time the equivalent of 6 months of the country’s fuel and gas consumption requirement from the current storage capacity of less than a month’s equivalent. The terminal would also serve as a bunkering hub and refilling station for vessels en route to South America and South Africa.

Officially inaugurating the facility, President Jammeh said the importance of building such a facility to the socio-economic development of The Gambia cannot be over-emphasised. He said, through bulk storage, The Gambia can reduce its dependency on the goodwill of neighbouring countries for the supply of petroleum products noting that for a small country like The Gambia, this is an important safety cushion against the vagaries of a world market that is characterised by rising oil prices.

The Gambian leader stated that by being able to have in stock such a large quantity, this depot would greatly enhance the country’s ability to stabilise the price of fuel in The Gambia within acceptable limits. “Price stability is a measure of macro-economic well-being and a signal for businesses and investments. As such, the facility has an added advantage of boosting our ability to attract new businesses thus, creating more employment opportunities for Gambians” he said.

According to the President, every sector of The Gambian economy including agriculture, health and natural resources exploitation is expected to indirectly benefit from this facility. “The facility would also directly benefit the country’s electricity sector including the planned expansions since heavy fuel would be the prime feed of the power plants. It is also anticipated that the disruptions in electricity services due to lack of heavy fuel can be considered  a thing of the past for Gambians” he stated.

President Jammeh then expressed hope that the facility would further sharpen The Gambia’s advantage of becoming the regional hub for commerce, trade and related services as well as make the Gambia become the sub-regional hub that would enable countries in the area, especially those that are land-locked to take their fuel supplies. He added that the depot is well equipped with loading stations to enable the simultaneous filling of as many tank trailers as desired in a short time. “Therefore, the key message here is that, although the facility is located in The Gambia, its benefits are far-reaching for others beyond our territorial borders” he said.

The Gambian leader then described the petroleum depot as a major infrastructural project which represents a huge national asset vital to support the country’s transformation process and the attainment of the objectives of Vision 2020.

He then urged people to jealously guard the investment and make sure that the expected outputs are realised for the benefit of every Gambian. He then assured of government's maximum support to the facility noting that no stone would be left unturned in the drive to bring development to the doorstep of every Gambian.

He further assured that government would take every measure to create the enabling environment for enhanced private sector participation in the economy and particularly important as the countdown to the 2020 deadline for achieving the Vision 2020 goals and the MDGs fast approaches.

For his part, Mohammed Bazzi, CEO of Gam-Petroleum lauded the inspiration of President Jammeh towards the success of this landmark facility. He stated that the facility has a storage capacity of 51,000 Metric tones of heavy and light fuel oil as well as gas and is up to international standards.

He confirmed that over 32 Million Euros (US 50million dollars) was spent on the facility and will enable countries like Mali, Guinea Bissau and other sub-regional countries to get supply of fuel oil. “We will also become a refilling station of standard in the sub-region and will benefit vessels en route to South America and South Africa benefit” he said.

CEO Bazzi then saluted President Jammeh for the confidence bestowed on him and creating the conducive environment by encouraging investment in this country. He then confirmed that they their next project in The Gambia is the Royal Atlantic Residence and assured that it will be another milestone.

He also assured of their support to the Brikama Power Plant to extend its megawatt from 25 to 50 megawatt to ensure enough supply of electricity within Western Region and other rural areas. He then thanked all those who supported them towards the success of this project.

Ousman Jammeh, secretary of state for Petroleum described the facility as yet another milestone which will have a great impact in the socio-economic development of this country. He stated that this multi-million dollars project is another step by government to achieve the Vision 2020 and MDGs as it approaches.

He then gave a detail background of the project and quickly noted that despite the difficulties faced, President Jammeh has again demonstrated the characteristics of a charismatic leader noting that he had seen such a facility for the Gambia a decade ago. He then stated that the inauguration of this project in the wake of the rising petroleum prices is vital and will enhance the competitiveness of The Gambia in the transformation of the airport to standard as there will be enough fuel.

He then advised that the depot must operate in accordance with international standards with regards to safety and assured that plans are in advance for new policies for the petroleum sector soon. He also thanked Mohammed Bazzi for such a success story.

Abdou FM Badjie, Governor of Western Region described petroleum as an essential services that each nation needs for national development. He thanked President Jammeh for the provision of the conducive environment for such a facility for The Gambia and assured of Western Region’s fullest support.

Pa Ceesay, Alkalo of Mandinary expressed similar sentiments of joy and Azziz Willan chaired the ceremony.

Present at the ceremony were, First Lady Madam Zinab Yahya Jammeh, Vice President Njie-Saidy, Former President Sir Dawda Jawara, Speaker Fatoumatta Jahumpa-Ceesay, Secretaries of State, members of the diplomatic and consular corps and other distinguish personalities.