Federal Govt Tasks NCDMB-funded Firms Effective Use Of Funds

The federal government has urged companies who have benefited from the Nigerian Content Development and Monitoring Board (NCDMB) interventions to utilise such funds for the purpose intended.

Minister of State Petroleum Resources (Oil) Sen. Heineken Lokpobiri, made this call on Thursday during an inspection at Amal Technologies Limited, an indigenous hardware manufacturer based in Abuja, on Thursday.

Lokpobiri also emphasised that Nigeria is winning the fight against oil theft and pipeline vandalism as shown in the recent increase in oil production volume.

According to him, “everybody knows that oil theft is one of the biggest economic problems that we have. And we are battling them. When I became minister, we were doing, daily, about one million barrels but today we are doing 1.7 million barrels inclusive of condensate. So, we are winning the war. We are not where we want to be. But certainly it’s a tremendous improvement as far as the issue of oil theft is concerned. We will continue to battle until we get to 2 million, 2.5 million barrels”.

He commended the company for the strides recorded over a short period of time despite being one of the least beneficiaries of the support fund set up by the Nigerian Content Development and Monitoring Board.

The minister reiterated the federal government’s commitment to supporting and strengthening local industries, highlighting their crucial role in driving economic growth and development.

Lokpobiri praised the company’s innovative solutions, stating, “Your innovative solutions are creating jobs, adding value to the economy, and making a significant impact across multiple sectors.”

He commended the company for its commitment to domesticating expertise and creating local employment opportunities, saying, “I am impressed by your dedication to domesticating your expertise and creating opportunities for local employment.

Your success is a testament to the power of engineering and innovation.”

The Minister emphasised the government’s support for local industries, stating, “We are committed to strengthening our partnership with you and supporting your growth. We recognise the importance of your work in achieving our objectives, particularly in reducing pipeline infractions and increasing local production capacity.”

Lokpobiri encouraged other partners and investors to utilise funds for their intended purposes, adding,

“If all those who have access to cheaper funding are doing what you are doing, more jobs will be created, while value will be created for our economy and support local industries.”

He assured Amal Tech. Limited to the government’s support, saying, “Once again, I congratulate you on your achievements and assure you of our support. We will work together to market your innovative solutions across West Africa and beyond.”

Also speaking at the event, the chief executive officer of the company, Shehu Abdullahi, expressed his appreciation to the federal government and stated that their innovations would save the government money.

“I am very excited to hear that the government is willing to partner with us on this. As you can see from the presentation earlier, the raw materials for the production can be sourced locally, which will save money for Nigeria,” he said.