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Tuesday, May 17, 2022

Nigeria secures $50 mln facilities to aide 1.2 million LPG yearly ~NCDMB

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote on Thursday said the board has secured a $50 million facility for the production of 1.2 million Liquefied Natural Gas (LPG) cylinders locally.

Wabote, who spoke at a meeting with members of the Guild of Corporate Online Publishers (GOCOP) in Lagos, noted that the the 1.2 million composite LPG cylinders will be manufacture yearly while the plant is due for commission this year.

“Partnership for the local manufacturing of 1.2 million composite LPG cylinders per year with the 1st phase scheduled for commissioning in 2022,” Wabote told senior journalists and members of GOCOP.

He also disclosed that the board has entered into partnership to deepen LPG utilization in the North with the roll-out of LPG bottling plants and depots in ten (10) Northern States of Kaduna, Bauchi, Katsina, Kano, Nasarawa, Niger, Plateau, Gombe, Zamfara, Jigawa and Abuja.

Speaking on the achievement of the (NCDMB), Wabote said the board now have capacity to manufacture low, medium, and high voltage cables and paints that can match any standard or quality in any part of the world.

These are just a few of the achievements through the adoption and implementation of local content in the oil and gas industry.

“Now that Nigeria has a well-established local content in the oil and gas industry such that other nations are even coming to learn from us, we need to now extend it to other sectors of the economy to further drive our National Development in the growth trajectory.

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“It is important to state here that our plan in NCDMB is that by 2027, we will ensure 70 percent Nigerian Content; creation of 300,000 direct jobs; retention of $13 billion of the estimated $20 billion spend in the oil and gas industry; ensure the domiciliation of major fabrication yards and manufacturing hubs in-country. These are no mean targets we have set for ourselves.

“Nigeria moved from near zero participation in the oil and gas sector to the point that our indigenous operators such as SEPLAT, AITEO, EROTON, and others are now responsible for 15 percent of our oil production and 60 percent of our domestic gas supply.

“Before the Act, we had annual spend of $20 billion, with little or nothing retained in-country. Today, we now spend more than $8 billion in-country per year.

“We now have two world-class pipe mills and five impressive pipe coating yards

“More than 40 percent of marine vessels used in the oil and gas industry are now owned by Nigerians.

“In fabrication, today Nigeria can handle fabrication of more than 250,000 Tonnes per annum.

“Over 10 million training manhours have been delivered via our Human Capacity Development Programs. No surprise that our indigenous workforce was able to sustain oil production at the peak of the COVID-19 pandemic lockdown.

“Over 50,000 direct jobs have been created on the back of the implementation of the NOGICD Act,” the executive secretary of the agency said.

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