…says it will generate foreign exchange
As the Naira depreciates due to lack of production of Nigerian goods and services, Simbi Kesiye Wabote, executive secretary, Nigerian Content Development and Monitoring Board, said the commissioning of MG VowGas newly acquired Heat Treatment Furnace and Dish Heads Forming Machines will raise foreign exchange and create employment opportunities for Nigerian youth amid boost of Gross Domestic Product (GDP).
Wabote make the remark in his keynote address during the commissioning of MG VowGas Heat Treatment Furnace and Dish Heads Forming Machines in Port Harcourt, Rivers State.
He explained that before now, fabrication of high magnitude work in oil and gas was done outside Nigeria and this has overtime increased capital flight and reduced foreign exchange. He maintained that more jobs would be created as the projects will give employment opportunities in Nigerian with top class services in construction, procurement, installation and other marine services.
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He stated that the facility is the biggest and the first in Nigeria and Africa, saying that the company is capable of breaking limitations as this will provide solution to other industries.
“They are also into facility revamping, turn around maintenance, maritime services among others,” he said.
He also expressed satisfaction as most highly fabricated works will now be done in country to save foreign exchange.
In an interview shortly after the event, Wabote said the high cost of cooking gas in Nigeria is due to the growing need of gas, but promised that with the construction of NLNG Train 7 in Bonny, the price of domestic gas will soon come down.
In his welcome speech, Godwin Izomor, group managing director, MG Vowgas, said the commissioning marked a significant milestone in the company’s journey towards technological advancement and the cerebration of reaching 2 million man-hours without any Lost Time Incident (LTI).
He told the people that the Heat Treatment Furnace and Dish Heads Forming Machine represent a major stride in the company’s commitment to excellence, innovation, and the pursuit of cutting-edge technology and state-of-art equipment.
He noted that with the equipment, they will be able to meet the growing demand of their value customers with even greater precision and efficiency. “The Heat Treatment Furnace is designed to provide a controlled environment for heating and cooling various materials, ensuring optimal strength and excellent results, while adhering to the highest safety standards.
He explained that the newly acquired Dish Heads Forming Machine caters to the production of large scale dish head components used in various industrial application, with advanced forming capabilities, characterize by unmatched precision, consistency, and speed using computer control technology.
Izomor commended the vision of the Nigerian Content Development and Monitoring Board in supporting indigenous content development of oil and gas industry.
Earlier, Aniekwe John Emeka, general manager, Quality Control of MG Vowgas Group, expressed happiness saying the newly acquired equipment will give a lot of wealth to Nigeria in terms of cost implications and utilization of the technology. “Our fabrication machine will assist in both manufacturing and agricultural purposes”.
Read also: Naira will continue to slide if Nigerians continue to depend on imported goods-Wabote
He said in the past most machines are taking to South Korea for fabrication and that alone take time and resources but this will now generate money and employment in Nigeria. “I see us manufacturing this equipment here in Nigeria, we are now one step forward,” he said.
“We have ISO standard, quality is very important to us the oil and gas sector, and safety is also critical in welding jobs and fabrication especially meeting international standard,” he stated.
Highlights of the event include the presentation of safety certificate to staffs, documentary of the company and inspection and commissioning of the equipment. Many international and local oil and gas companies were in attendance including Emeka Ihuwo, paramount ruler of Woji community.
