The Nigerian Content Development and Monitoring Board (NCDMB) has inaugurated Bell Oil & Gas’s new $100 million facility in Lekki Free Trade Zone, Lagos.
This facility, producing 50,000 metric tonnes annually, focuses on pipe threading, valve assembly, and composite pipe manufacturing.
NCDMB’s Executive Secretary, Omatsola Ogbe, celebrated this as a major milestone in Nigeria’s oil and gas sector.
“This facility demonstrates the strides of local companies in building infrastructure that drives in-country value,” Ogbe noted.
He emphasized that “Nigerian Content” does not exclude foreign partnerships but rather promotes collaborative growth with multinationals, benefiting both local and global stakeholders.
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Bell Oil & Gas CEO, Kayode Thomas, shared that the project, executed in three phases, aims to serve both onshore and offshore drilling needs, while also enhancing local content in the industry.
However, he voiced concerns over the lack of support from Nigerian banks, which led to seeking funding abroad.
“Without local bank support, Nigeria’s industrialisation goals may stall,” Thomas warned.
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