The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has reaffirmed the Federal Government's commitment to creating an enabling environment that attracts investment, strengthens local content, and promotes sustainable industrial growth in Nigeria's petroleum sector. This statement was made at the 25th anniversary celebration of Tenaris Global Services Nigeria Ltd. Lokpobiri commended the company for its sustained investment and commitment to the country's oil and gas industry. The celebration marked significant milestones, including the completion of Tenaris's Bonga North coating campaign and the commissioning of a new five-layer thermal insulation plant.
According to Sen. Lokpobiri, the Federal Government's ambition is for the development of Nigeria's petroleum resources to strengthen Nigeria's industrial future. He noted that investments in local facilities create opportunities to retain greater expenditure within the Nigerian economy, support skilled employment, develop domestic suppliers, and equip Nigerian workers with experience that can be deployed on future projects. This approach is expected to have a positive impact on the country's economy and industrial growth.
The Minister emphasized the importance of continuity in the petroleum sector, noting that consistent demand for locally established capacity would encourage businesses to maintain equipment, invest in training, and expand their ability to serve additional customers and compete in regional markets. He stated that industrial investment establishes capacity, while local content connects that capacity to Nigerian opportunity. Strategic partnerships help sustain delivery and open the way to further growth.
Sen. Lokpobiri encouraged Tenaris to deepen its contribution to Nigeria's industrial growth through structured training and supplier development. He urged the company to provide Nigerian engineers and technicians with opportunities to assume greater responsibilities. Additionally, he suggested that Tenaris work with technical institutions and qualified Nigerian businesses to build the capabilities required to participate in its supply chain.
The Minister called on the wider petroleum industry to sustain demand for capacities established in Nigeria, stressing that each new project should contribute to strengthening the industrial base available for future developments. This approach is expected to create a ripple effect, encouraging further investment and strategic partnerships that create lasting value for Nigeria.
Sen. Lokpobiri congratulated Tenaris on its 25 years of operations in Nigeria and expressed confidence that the company's achievements would encourage further investment and strategic partnerships. He acknowledged the significance of Tenaris's milestones, including the successful completion of the Bonga North coating campaign and the commissioning of a new five-layer thermal insulation plant.
The Minister's reaffirmation of the Federal Government's commitment to fostering investment and local content growth in the petroleum sector is a positive development for Nigeria's industrial growth. The government's efforts to create an enabling environment for investment and local content growth are expected to have a lasting impact on the country's economy and petroleum sector.
Key points
- The Federal Government is committed to creating an enabling environment that attracts investment and promotes sustainable industrial growth in Nigeria's petroleum sector.
- Investments in local facilities create opportunities to retain greater expenditure within the Nigerian economy and support skilled employment.
- The petroleum industry is encouraged to sustain demand for capacities established in Nigeria to strengthen the industrial base available for future developments.
