The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has assured local manufacturers and other stakeholders in the oil and gas sector of adequate support.

The minister, while speaking during the inauguration of Monarch Alloy Limited Oil and Gas Pipe Coating Facility in Lagos, said Nigeria is no longer a dumping ground for foreign countries, stating that the federal government will not allow waivers for companies that are not ready to add value to the country.

He said the administration of President Bola Tinubu is ready to create value and jobs in the oil and gas sector, noting that the federal government will maintain the integrity of the pipelines.

According to him, “The federal government is not leaving any stone unturned. We will support stakeholders’ efforts in the oil and gas sector and we will create value and job opportunities for the Nigerian youth wherever they are in this country.”

Governor Babajide Sanwo-Olu of Lagos State, who was represented by the Secretary to the State Government (SSG), Barrister Bimbola Salu-Hundeyin, said the state government would continue to create enabling environment for business owners across the state.

According to him, “With this great initiative, the oil and gas sector is breaking new ground and I want to assure business owners that Lagos State is ready to drive any initiative that would trigger growth and development across the state.”

The Managing Director of Monarch Alloy, Mr. Atul Chaudhary, said the inauguration of the new facility is a landmark achievement, stating that the company has expanded considerably to evolve into one of the leading steel producers in the country.

“This is our first major step in the oil and gas sector. And we are ready to explore the sector diligently. Our plant is equipped with 3LPE and concrete weight coating facilities. We can handle pipes ranging from 4 inches to 64 inches in diameter, with an impressive annual coating capacity of 2 million square meters.We are capable of coating up to 500 pipes per day—of 4-inch diameter-if operated continuously.We have a team of highly skilled professionals who are ready to diligently make this possible,” he said.

Present at the inauguration included the Minister of State for Industry, Trade, and Investment, Senator John Enoh; his predecessor and former Governor of Ekiti State, Otunba Adeniyi Adebayo; Senator Tokunbo Abiru; Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe and Ayangbunren of Ikorodu, Oba Kabiru Shotobi, among many others.

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