ECONOMIC INSIGHT FG to reduce crude oil production cost using local manpower

The Minister of State for Petroleum, Chief Timipre Sylva, has assured on the federal government’s commitment to using local contractors in the production of crude oil to reduce cost and make the resources more available to Nigerians.

Sylva disclosed this on Friday when he led a team from the federal Ministry of Petroleum on an inspection of the 17-storey office complex built by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa and a 10 megawatts modular power plant project being constructed by the board in Elebele.

Sylva, who also attended the board meeting of NCDMB, said he was afforded the opportunity to get acquainted with the local content activities in practical terms.

“I’m glad to have seen this magnificent building done by a Nigerian contractor. I must say I am impressed with it. This is a clear indication about what Nigerians can do in Nigeria.

“The management of NCDMB has shown that they know what they are doing. The Executive Secretary, Engr.

Simbe Wabote, came from Shell to manage a public space, and has shown his private experience in the public sector.

“This building is a testament of great work, and the 10 megawatts power plant project which can be increased up to 25 megawatts,” he said.

Engr. Wabote said the building would be completed in December, adding that the facility would also be used in training more Nigerians in some specialised fields in the oil and gas sector to encourage local content.