The Federal Government has reaffirmed its commitment to supporting local content in the oil and gas sector.
Minister of Petroleum Resources (Oil), Heineken Lokpobiri, made this known on Thursday during the launch of Monarch Alloys’ 33LPE and concrete weight coating facility in Ikorodu, Lagos. He stressed the need to prioritize local pipeline production and warned that companies like Monarch Alloys would struggle without consistent industry support.
Lokpobiri criticized past practices that allowed dumping of imported pipes, hurting local businesses, and vowed that under President Tinubu’s leadership, dumping would no longer be tolerated. He urged full implementation of the local content law, emphasizing that investing in Nigerian companies sustains jobs and strengthens the economy.
Highlighting Nigeria’s aging pipeline infrastructure, some over 60 years old, he pointed out the opportunity for midstream and downstream investments. He challenged stakeholders to help companies like Monarch Alloys grow to serve not just Nigeria but the entire African continent.
Monarch Alloys’ CEO, Atul Chaudhary, shared that the company, established in under two years, has significantly reduced Nigeria’s reliance on imported steel. With an annual capacity of 2 million square meters, the facility can produce up to 500 pipes per day.
Executive Secretary of the NCDMB, Felix Ogbe, praised the facility as a major achievement in building local pipeline infrastructure and strengthening Nigeria’s oil and gas value chain.