As part of its drive to enhance local content in the oil and gas industry, the House of Representatives has said it is not relenting in its efforts at ensuring that local companies are the major beneficiaries of the policy.
The House committee on Local Content, which visited Marine Support Base and shipyard of West African Ventures located in Warri, urged international oil companies to patronise the company so that it can build local capacity.
The committee’s appeal is coming on the heel of the discovery of several new boats recently constructed in country but awaiting purchase by oil and gas operators during the committee’s oversight function.
Emmanuel Okon, chairman, House Committee on Local Content, while lamenting underutilisation of the company’s facilities by IOCs, advocated for patronage so as to encourage sustainable investment needed to build in-country capacity and ability of indigenous companies to compete internationally.
In his expression of satisfaction with the standard of passenger boats, tug boats and investment in dry dock, the chairman said that the House of Representatives will ensure a sustainable patronage of the multi-billion naira yard of West African Ventures and facilities of other indigenous companies line with the conditions cont…
Okon said, “I am impressed by what I am seeing here and I believe the community is impressed and from the local content perspective, I believe this is all it is about. Even though the facilities are not properly utilised the way it is supposed to, we will try our very best to get people, marketers who can market this company and give them the level of patronage that they deserve.”
The chairman mentioned that the lower chambers would exercise its legislative powers to ensure that the crisis in the oil and gas sector doesn’t weigh down the business. He noted that the global crisis was evidently affecting related markets and other local companies at this time.
In his words, “as a responsive legislature, we will make sure that we continue to legislate and come out with laws and legislations that will force other companies and other users of light boat like this to consider getting it from companies like WAV with huge investment in the country to create jobs.”
The lawmaker also noted the impact of Local Content Law since its introduction in 2010 has encouraged steady investment in various regions of Nigeria. He disclosed vehemently that the law has promoted immeasurable investments and achievements recorded in terms of job creation and skill acquisition in the oil and gas sector. He was convinced that local companies have fared well as a result of the law and more investments are expected when the economy takes a stable position.
Ibrahim Sambo, executive director of West African Ventures Limited, told the committee members that there were economic crisis prompting developments such as redundancies in the system. He revealed that they had to embark on three redundancy exercises in the last quarter to manage cost in order to meet up with dwindling revenue.
He was however optimistic about huge patronage from some government parastatals and other organisations in respect of flying boats services, border patrol and the likes, following the Legislative backing to assist the company and other local companies in terms of patronage, having realised that facilities available were under – utilised.
The executive director added, “ Loss and gains come from almighty God, no regrets whatsoever. In goodness, all you will lose and gain is in the hands of God, which is my own philosophy because if God gives you something, you will not know that you will get it but it is out of dedication and hard work. So now, we are still hoping for a bright future.
West African Ventures (WAV) is a 100 per cent Nigerian company and a leading indigenous provider of offshore engineering, procurement, fabrication, installation and vessel charter services.
OLUSOLA BELLO
