Nigeria Content is not about “Nigerianisation” or exclusion of Foreign participation in the Oil Gas Industry, rather it is about value creation in Nigeria by encouraging the involvement of multinationals and original equipment manufacturers in a mutual beneficial manner.
The Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB, Engr.Felix Ogbe, made the assertion at the Inauguration of Monarch Alloys Limited’s 3LPE and Concrete weight Coating at lkorodu in Lagos State.
Ogbe described the event as not just the launch of a new facility, but also another step forward in the country’s ability to provide advance pipeline infrastructural design, built and completed in the country.
“Let me begin by congratulating the leadership of Monarch Alloys Company for this commendable achievement. This facility is a testament to what is possible when private enterprise aligns with national vision and when local capacity is not only developed, but demonstrated with confidence”, Ogbe said.
“At NCDMB, we are particularly proud of this development because it speaks directly to the mandate of the board. It also strengthens our value chains, deepen local participation and affirms our collective commitment to building an oil and gas industry driven by Nigerians,” he concluded
The NCDMB Boss noted that for too long, critical elements such as pipeline Coating were sourced abroad, thereby draining opportunity and value from the nation’s economy, but today, he said the equation has shifted.
He called on all stakeholders, particularly the IOC’s and NOC’s to collaborate with local players as building a national capacity was not for one entity, but a shared responsibility.
Engr Ogbe reiterated the board’s unwavering commitment and support for laudable initiatives of local industries, since the mandate of the Board is to create an enabling environment where Nigerian businesses are empowered to thrive.
In his remark, the Mimister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, thanked the NCDMB for its achievements on the local content drive in the past sixteen years.
The Minister also commended the Monarch Alloy Company for completing the project within eighteen months as promised.
He, however, stressed that the most important aspect of the celebration was how to sustain the company.
“The federal government will at all times support industries like this to grow, so that we can retain the value in country. Any pipe imported, we are creating and sustaining jobs elsewhere, but when we buy from this company, we are retaining jobs and value in our country,” the Minister said.
He frowned at a situation where waivers are granted for importation instead of protecting local industries.
The Governor of Lagos State, Babajide Sanwo-olu, said the establishment of the project not only represent the economic progress of the Lagos, but another step towards industrial progress in the entire state.
“This landmark event in lkorodu demonstrates the trust and conference that investors have in Lagos and her share commitment to industrial growth and sustainable economic development,” he said.
The Governor, who was represented by the Secretary to the State Government, Mrs Abimbola Salu-Hundeyin commended the staff and leadership of Monarch Alloys Limited for their unwavering commitment to excellence, safety and environmental responsibilities.
Earlier, the Managing Director of Monarch Alloys Company Limited, Mr Atul Chandhary, thanked the NCDMB and all others stakeholders for their support all through the execution of the project.
Mr Chandhary assured that materials used in the company are sourced locally and pledge to continue to add value to the nation’s economy through quality production and effective service delivery.
The event was attended by dignitaries, including traditional Rulers from the host community.
