Nigeria To Earn N46bn Yearly From Pipe Fabrication

[Shola Sholaz]

The Nigerian Content Development Monitoring Board, NCDMB, said Nigeria will earn about $300 million (N47.7 billion) annually or $1.2 billion (N190.8 billion) over the next four years, between 2013 and 2017, in the local production of steel pipes for the exploration and production of crude oil in Nigeria.
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The NCDMB in its 'Nigerian Content Implementation Framework for 2013,' said it planned to directly facilitate the increase of local steel pipe annual production capacity from 100,000 metric tonnes, MT, in 2011 to 900,000MT by 2017.
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According to the NCDMB, by 2017, local capacity of 500,000MT will exceed exploration and production demand for steel pipes leading to 100 per cent utilisation of locally produced steel pipes.
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"NCDMB's approach is structured around radically increasing local supply of steel pipes in product categories that will have the largest impact, thus starting with welded pipes.