The Steel Sector is essential in the oil and gas industry as it creates various components that are used in the exploration, production, and transportation of oil and gas.
Minister of State for Steel Development, Uba Maigari Ahmadu stated this while delivering his goodwill message at the 8th Sub- Saharan Africa International Petroleum Exhibition and Conference, SAIPEC, in Lagos State.
Ahmadu noted that Oil and Gas exploration and production will be impossible without steel fabrication because it provides reliable and robust structures to withstand the harsh environment of oil and gas production, transportation and storage.
“The importance and rationale for this decision are multifaceted and underscores the critical role of steel development in driving sustainable economic growth and national development” he added.
Ahmadu explained that the establishment of the Ministry by President Bola Ahmed Tinubu was a strategic and visionary move aimed at advancing the nation’s industrialization and economic diversification agenda.
“The present administration’s deliberate efforts to revive the steel sector is with a view to harness the gains within the sector to achieve sustainable development” the Minister noted.
“The renewed focus on steel development aligns with the goals of the Renewed Hope Agenda, including industrialization, job creation, economic empowerment, and sustainable development, positioning Nigeria for enhanced competitiveness and prosperity in the global arena”.
Ahmadu who stressed the need for collaboration between the Ministry and the oil and gas industry, added that the Steel Sector plays a significant role in the vast development of the oil and gas industry.
“Through active collaboration and knowledge sharing, we can ensure that the steel sector provides the high-quality, cost-effective, and readily available materials needed by the petroleum industry. By working together, we can support local content development, create jobs, and foster sustainable economic growth across the entire region”.
“I encourage you to explore the partnership opportunities that the Nigerian steel sector offers. We are open to partnership, joint ventures and knowledge sharing, aimed at creating a mutually beneficial ecosystem that drives growth and prosperity for both industries” Ahmadu stated.
The Minister who commended the Petroleum Technology Association of Nigeria, PETAN, for its continued commitment in advancing the African petroleum industry and for recognizing the crucial role that the steel sector plays in the nation’s economy, added that SAIPEC 2024 will provide valuable opportunities for the steel and petroleum industry stakeholders’ to connect, explore collaborative ventures and drive innovation for the benefit of the entire continent.
In his welcome address, the Chairman of the Petroleum Technology Association of Nigeria, Mr. Nicolas Odinuwe, noted that the theme of the Conference, “The Next Steps: Accelerating African Content” is one that resonates deeply with the Association and signifies a collective determination to propel African content to new heights, break barriers, and create opportunities for the continent’s talented content creators.
He added that the time has come for Africa to take center stage to showcase its rich cultural heritage and to tell its stories to the world.
Mr. Odinuwe who emphasized that encouraging African Content will simplify processes, reduce costs, enhance competitiveness, attract investment, develop local capacity, and promote harmonization, noted that these benefits will contribute to the growth and development of the African economy and improve the continent’s position in the global market.
By Georgina Humphrey, Edited By Grace Namiji
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