Oil & Energy
Experts Want FG To Patronise Local Engineers
Four Nigerian petroleum engineers have appealed to the
Federal Government to encourage the participation of indigenous engineering
companies in the oil and gas sector by awarding them contracts.
The engineers who are all company executives in Port
Harcourt, spoke with The Tide at the
venue of the ongoing Society of Petroleum Engineers Conference and Exhibition
in Lagos.
According to them, many companies have closed down because
the government had failed to patronise them.
Mr Solomon Ewanehi, the Managing Director of Solewant
Nigeria Limited, noted that the government’s patronage of indigenous oil and
gas companies was low, regretted that the government preferred to patronise
foreign companies to the detriment of the local ones.
“Government often brings expatriates to do most of our jobs
whereas Nigeria has the best and competent petroleum engineering companies that
can do the job perfectly.
“There are some of our counterparts from abroad coming to
the country to do the job that we are supposed to do in the country,’’ he said.
According to Ewanehi, local firms are always sad to see
expatriates doing the jobs they can do.
“The only way for government to help the indigenous
companies to grow is by giving most of these jobs to local companies,” he said.
Mr Matthew Okoro, Managing Director of Well Fluid Services
limited said the government should urge banks to grant loans to indigenous
companies to finance their projects.
Okoro observed that
inadequate funding by banks had contributed to the collapse of most indigenous
companies, and advised the organisers of
the conference to create more space for indigenous companies to exhibit their
products in future exhibitions.
Another exhibitor, Mr Isaac Ejuomah of B.G Technical
limited., urged government at all levels to encourage indigenous participation
in the oil and gas sector.
He said that this was one of the ways to encourage
indigenous participation in the nation’s affairs.
Oil & Energy
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Oil & Energy
Power Supply Boost: FG Begins Payment Of N185bn Gas Debt
In the bid to revitalise the gas industry and stabilise power generation, President Bola Ahmed Tinubu has authorised the settlement of N185 billion in long-standing debts owed to natural gas producers.
The payment, to be executed through a royalty-offset arrangement, is expected to restore confidence among domestic and international gas suppliers who have long expressed concern about persistent indebtedness in the sector.
According to him, settling the debts is crucial to rebuilding trust between the government and gas producers, many of whom have withheld or slowed new investments due to uncertainty over payments.
Ekpo explained that improved financial stability would help revive upstream activity by accelerating exploration and production, ultimately boosting Nigeria’s gas output adding that Increased gas supply would also boost power generation and ease the long-standing electricity shortages that continue to hinder businesses across the country.
The minister noted that these gains were expected to stimulate broader economic growth, as reliable energy underpins industrialisation, job creation and competitiveness.
In his intervention, Coordinating Director of the Decade of Gas Secretariat, Ed Ubong, said the approved plan to clear gas-to-power debts sends a powerful signal of commitment from the President to address structural weaknesses across the value chain.
“This decision underlines the federal government’s determination to clear legacy liabilities and give gas producers the confidence that supplies to power generation will be honoured. It could unlock stalled projects, revive investor interest and rebuild momentum behind Nigeria’s transition to a gas-driven economy,” Ubong said.
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