The federal government has officially stopped the importation of oil pipelines into Nigeria to promote local manufacturing and create more jobs.
The announcement was made in Lagos by the Minister of Petroleum Resources (Oil), Heineken Lokpobiri, during the opening of a new pipeline coating factory owned by Monarch Alloys in Ikorodu.
The minister explained that Nigeria no longer needs to depend on foreign pipes, especially those brought in from China, since the country now has companies that can produce the same products.
He also directed the Nigerian Content Development and Monitoring Board (NCDMB) to stop approving waivers that allow imported oil pipelines.
Lokpobiri said that keeping the money within Nigeria by buying from local manufacturers will help the economy grow and provide more jobs.
He also noted that the oil sector is facing challenges because many of the current pipelines are old, with some in use for more than 60 years.
He said the country can produce up to 3 million barrels of oil daily if these problems are fixed.
The minister called on investors to put more money into the midstream and downstream sectors of the oil industry.
He promised that the government will support companies that are working to improve the country’s oil infrastructure.
The Chief Executive Officer of Monarch Alloys, Atul Chaudhary, said the company now produces pipes in Nigeria, which means there’s no need to rely on foreign suppliers.
The factory, completed in less than two years, can produce 500 pipes every day and handle 2 million square meters of coating each year.
Felix Ogbe, the Executive Secretary of the NCDMB, described the new facility as proof that Nigerian professionals are capable of handling such projects.
He praised the effort, noting that it shows how private investment can work with national goals to boost local capacity in the oil and gas industry.
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