The federal government has called on companies that have benefited from the Nigerian Content Development and Monitoring Board (NCDMB) interventions to ensure that the funds are utilized for their intended purposes. This call was made by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection visit to Amal Technologies Limited, an indigenous hardware manufacturer based in Abuja, on Thursday.<\/p>\n
During his visit, Lokpobiri emphasized the importance of accountability and the responsible use of funds provided by the NCDMB to support local industries. He urged companies to leverage these funds to drive innovation, enhance production capacities, and contribute to Nigeria’s economic growth.<\/p>\n
“These funds are crucial to the development of our local industries,” Lokpobiri stated. “It is imperative that they are used effectively to achieve the objectives set out by the NCDMB. Companies that have received support must demonstrate tangible results that align with the goals of economic diversification and technological advancement.”<\/p>\n
The minister also highlighted the federal government’s ongoing efforts to combat oil theft and pipeline vandalism, which have been persistent challenges in Nigeria’s oil sector. He pointed to the recent increase in oil production as evidence of progress in this fight.<\/p>\n
“Oil theft has been one of the biggest economic problems facing our country,” Lokpobiri noted. “When I assumed office as minister, our daily oil production was around one million barrels. Today, we have increased that to 1.7 million barrels, including condensates. While we are not yet where we want to be, this is a significant improvement. We will continue to battle oil theft and pipeline vandalism until we reach our target of 2 to 2.5 million barrels per day.”<\/p>\n
Lokpobiri commended Amal Technologies Limited for its remarkable achievements within a short period, despite being one of the least beneficiaries of the support fund provided by the NCDMB. He praised the company for its innovative solutions, which he said were creating jobs, adding value to the economy, and making a significant impact across various sectors.<\/p>\n
“Your innovative solutions are not just contributing to the economy but are also creating employment opportunities for Nigerians,” Lokpobiri said. “Your success is a testament to the power of engineering and innovation. The strides you have made in domesticating expertise and fostering local employment are commendable.”<\/p>\n
The minister reiterated the federal government’s commitment to supporting and strengthening local industries, recognizing their crucial role in driving economic growth and development. He emphasized that the government would continue to strengthen its partnership with companies like Amal Technologies and provide the necessary support to ensure their growth and success.<\/p>\n
“We are committed to working closely with you and other local industries to achieve our national objectives,” Lokpobiri affirmed. “Your work is essential not only in reducing pipeline infractions but also in increasing our local production capacity. The government’s support for your growth is unwavering, and we will continue to provide the resources and infrastructure needed to help you succeed.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The federal government has called on companies that have benefited from the Nigerian Content Development and Monitoring Board (NCDMB) interventions to ensure that the funds are utilized for their intended purposes. This call was made by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection visit to Amal Technologies Limited, […]<\/p>\n","protected":false},"author":2,"featured_media":44928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[59],"class_list":["post-46296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=46296"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46296\/revisions"}],"predecessor-version":[{"id":46297,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/46296\/revisions\/46297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/44928"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=46296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=46296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=46296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}