Tuesday , October 26 2021
Nigeria’ll Produce Parts for Oil Industry - Minister

Nigeria’ll Produce Parts for Oil Industry – Minister



The Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria does not have any justifications to import all the manufactured parts required in the country’s oil industry.

Sylva said the Nigeria Oil and Gas Park Scheme, when completed, would increase the country’s capacity to produce such needed items in-country, including nuts and bolts, to service the industry.

The minister spoke during an inspection visit to the NOGaPS project site at Emeyal 1 community in the Ogbia Local Government Area of Bayelsa State.

He said, “What we are trying to do here is to be able to create opportunities for the manufacturing of some of the parts that are needed in the oil industry. There is no reason why we would be importing everything, including nuts and bolts, from outside Nigeria.

“So, the NCDMB has brought this opportunity here, to bring companies to operate here to be able to produce those things to service the industry that is around us.”

The minister said he was impressed by the quality of work at the NOGaPS site and lauded the NCDMB for bridging the local content gap that existed in the country’s oil industry before the establishment of the agency.

 

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He stated that local participation was only three per cent before the NCDMB came on board.

According to him, the NCDMB has been able to scale up local participation to 30 per cent and the agency was working towards increasing it to 70 per cent by 2027.

Sylva expressed confidence that the oil and gas park would create over 2,000 jobs, adding that the President, Major General Muhammadu Buhari (retd), would inaugurate the project when completed.

In his remarks, the Executive Secretary, NCDMB, Mr Simbi Wabote, who led other board officials to receive the minister and his entourage, reiterated that the NOGaPS project would be completed in the last quarter of 2022.


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