Nigeria’s quest for massive indigenous participation in the nation’s oil and gas industry has received a boost as Pacegate Energy and Resources Limited (PEARL), launched an ultra-modern manufacturing plant where drilling chemicals, water and oil-based production chemicals are formulated and manufactured in Nigeria and made accessible to clients.
Located at Ilupeju, Lagos, the plant was said to have been established in a bid to meet the growing needs of the oil and gas and transportation sectors of the Nigerian economy and Africa at large. This has been made possible by PEARL’S partnership with global energy solutions provider, Canadian Energy Solutions (CES).
Speaking at the event, the Minister of Industry, Trade and Investment, Adeniyi Adebayo stated that there is need for innovative partnerships such as this to boost local content in Nigeria. “I am pleased to formally commission the first local content fluids and chemical solutions manufacturing plant in Nigeria, which represents a significant landmark for the country’s industrialisation programme.
Domestication of products has been at the centre of this administration’s industrialisation programme to drive job intensive growth of the Nigerian economy. It will increase local production, create job opportunity and improve our foreign exchange reserve position. I believe this will help in taking us ahead in our effort to diversify the economy and increase the contribution of the manufacturing sector to GDP. Most especially, the plant will provide jobs to Nigeria’s workforce, promote local content, and save the nation the extra cost of importing the now locally produced input’’.
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