{"id":416431,"date":"2011-05-03T15:32:39","date_gmt":"2011-05-03T15:32:39","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/03\/nigerian-investors-hurry-to-invest-in-oil-and-gas-%e2%80%93-fenog-boss\/"},"modified":"2011-05-03T15:32:39","modified_gmt":"2011-05-03T15:32:39","slug":"nigerian-investors-hurry-to-invest-in-oil-and-gas-fenog-boss","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/03\/nigerian-investors-hurry-to-invest-in-oil-and-gas-fenog-boss\/","title":{"rendered":"Nigerian investors hurry to invest in oil and gas \u2013 FENOG boss"},"content":{"rendered":"
\n

By Emma Amaize
WARRI- DIRECTOR of FENOG Nigeria Limited, a major player in the nation\u2019s oil industry, Mr. Matthew Tonlagha said,Tuesday, in Warri, Delta state, that there is a rush by Nigerian entrepreneurs to invest in the oil and gas industry and build up the capacities of their companies to handle major contracts because of their new found hope in the Local Content Bill, put in place by the Federal Government.<\/p>\n

Mr. Tonlagha said the commitment of the Federal Government, led by President Jonathan, towards the implementation of the bill would lead to transformation of the Niger-Delta region if sustained.<\/p>\n

He noted that at the moment, \u201cthe major contracts that they (government agencies)\u00a0 were giving to the multinational oil companies are now being directed towards the Local Content aspect,\u00a0 which is a very good thing and because of that, Nigerians that are interested in investing in their companies and building up their capacities are pushing efforts to invest on equipment because they have high hope in the Local Content Bill\u201d.<\/p>\n

Describing the development as a \u201cgreat achievement\u201d, he said, \u201cFrom the Minister of Petroleum Affairs to the GMD of NNPC and the Executive Secretary of Local Content; they are doing wonderful works to encourage Nigerians to invest in the oil and gas industry. But there is still need for them to put more efforts because there are some people out there who do not like the Local Content Bill as a result of their selfish interest.\u201d<\/p>\n

His words, \u201cWhen the Local Content bill was not there, few people benefited but with this Bill that the President passed many Nigerians will benefit from it, many of our people in the oil producing communities will rise up and become major players in the oil that is in their ancestral land\u201d.<\/p>\n

\u201cAnd we, Nigerians need to support the GMD of NNPC, the Petroleum Minister and the Executive Secretary of Local Content because they cannot do it all alone, because some people may just be out to frustrate their efforts. The President has taken the bull by the horn to ensure the success of the Local Content Bill,\u201d he stated.<\/p>\n

He said, \u201cWe have an honest President, he wants to succeed in office, hence, he appointed capable hands like the Group Managing Director of the NNPC, Mr. Austin Oniwon, Petroleum Minister, Diezani Alison- Madueke and the Executive Secretary of the Local Content, Engr. Ernest Nwapa. These people understand the oil industry very well\u201d.<\/p>\n

According to him, since the passage of the Local Content Bill, the GMD of NNPC, the Petroleum Minister and the Executive Secretary of the Local Content have shown great commitment to its feasibility, adding, \u201cThey have being telling the oil companies that Nigerians want the Local Content Law to work\u201d.<\/p>\n

The FENOG boss stated that with the present trend of things, \u201cNigerians are capable of taking over 90 per cent of the oil industry. For the past three years, we, in FENOG alone, have spent over 350 million dollars investing on equipment in order for us to meet up with the challenges in the oil and gas industry. I want to let Nigerians know that in the HDD technology, we are the biggest in the whole of Africa. We just completed the Escravos River crossing, a 1.7 kilometre, 45-meter depth project; it is the biggest in the whole world in HDD technology\u201d.<\/p>\n

\u201cFENOG designed everything locally and so I should be proud of my country. Nigerians should support the Local Content Bill of the President and all of us will see great transformation in our oil communities in the next four years of President Jonathan. All our HD operators are from the various communities where we are working. When the President is pushing on the Local Content, we,\u00a0 who are the foot soldiers need to push it to the grassroots for them to reap the benefits of the Local Content Bill\u201d, he said.<\/p>\n

\u201cI want everybody to know that this Local Content Bill is very important to the oil producing communities. Our oil companies must be able to carry the locals along; give them light from your flow station, give them light from your tank farm and when these are done, the communities will protect your facilities,\u201d he said.<\/p>\n<\/div>\n

Comments are moderated. Please keep them clean and brief.<\/p>\n<\/p>\n

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By Emma Amaize WARRI- DIRECTOR of FENOG Nigeria Limited, a major player in the nation\u2019s oil industry, Mr. Matthew Tonlagha said,Tuesday, in Warri, Delta state, that there is a rush by Nigerian entrepreneurs to invest in the oil and gas industry and build up the capacities of their companies to handle major contracts because of their new found hope in the Local Content Bill, put in place by the Federal Government. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-416431","post","type-post","status-publish","format-standard"],"yoast_head":"\nNigerian investors hurry to invest in oil and gas \u2013 FENOG boss - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/03\/nigerian-investors-hurry-to-invest-in-oil-and-gas-fenog-boss\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Nigerian investors hurry to invest in oil and gas \u2013 FENOG boss - 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