This Day (Lagos)

13 August 2014

Nigeria: House Endorses Technova Pipe and Steel Industrial Park

The House of Representative has given its support to Technova Africa Group, an indigenous conglomerate of seven wholly owned subsidiaries currently constructing a 200,000mpta pipe mill and coating facility for oil and gas industry at Ologbo, Edo State.

The House Committee Chairman on Local Content, Hon Asita Honorable, who expressed readiness to support the company in its drive to contribute to Nigerian economy, said Technova had decided to curb capital flight in the country by establishing the industrial park to produce pipes for oil and gas company with a focus on the Nigerian content policy.

During the second oversight visit to Technova industrial park recently, Honorable commended many international oil companies (IOCs) that have been supporting indigenous company in Nigeria most especially Technova urging them to do more until the goals and objectives of the company are totally achieved.

He noted that Technova is the future of oil and gas industry in Nigeria, adding that its action is courageous and progressive which must be supported by all.

"If many companies could come to Nigeria and cart away our money through contract, while Technova is establishing such laudable project here to add value to our economy, create jobs for our people and bring immense benefit to the host community, and we refuse to support them, then we are fraudsters in government.

"By June the coated painting facility would have been completed, so, our role is to support Technova to enhance its continued development of the facility in order to create more job opportunities for Nigerians. All we are doing here today is to therefore help progress this wonderful project," the lawmaker said.

The ceremony which was graced by top government functionaries, members of the Nigerian Local Content Board, major IOCs as well as well other stakeholders from the oil and gas industry also involved the inspection of the construction phase of Technova line pipe mill and coating facility, as well as residential, recreational, and medical facilities. Other inspected projects include 15 metre wide access road (Technova Drive) and the perimeter fencing of the steel industrial park.

According to the Managing Director of the company, Norbert Oleah, who also commended the National Assembly committee for its support, the project is expected to create over 3,500 direct and indirect employments, with about 30 spin-off businesses.

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