Minister of state petroleum resources, Timipre Sylva, has pledged Federal Government’s support for indigenous oil and gas companies in Nigeria.
Speaking during a tour of facilities of Lee Engineering and Construction Company’s fabrication plant in Warri, Delta State, Sylva said it was through government’s patronage and support that the Local Content Act can be fully realised.
Nigeria is determined to raise the bar in promoting local content in the oil and gas sector, he said, stressing that by 2027 government plans to increase local content in the sector from its present 10% in 2020 to about 40%. It is only through such deliberate policies that Nigeria can attain full industrialisation and continue to create jobs for Nigerians, he said.
While commending the giant strides being made by Lee Engineering and Construction Company in promoting local content in the oil and gas sector, he said the government would support the company to achieve greater heights.
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“Great effort. This is the kind of story Nigeria requires. Inspiring lives that will push the aspirations and ambitions of the youths to great heights. Lee started from a humble beginning and have grown a business to levels that we can only marvel at. As the government, this is the essence local content is made of, and we will stand shoulder to shoulder with Lee Engineering in their desire and quest to achieve enviable heights,” he said of the company.
In a welcome address during the tour of the facility, Executive Chairman of the company Leemon Ikpea urged the Federal Government to grant import duty waiver and tax relief for indigenous fabrication companies such as Lee Engineering to enable them to continue to support the government in job creation and boosting the economy.
