Tinubu Urges IOCs to Give Indigenous Firms More Energy Contracts
President Bola Tinubu has urged international oil companies (IOCs) operating in Nigeria to give competent indigenous firms greater opportunities in major energy projects.
Tinubu made the call while receiving the Founder and Chairman of Lee Engineering Group, Chief Dr Leemon Ikpea, at the State House, Abuja.
The President reaffirmed his commitment to unlocking Nigeria’s gas resources to power industries, improve electricity supply, create jobs and boost export earnings.
This is contained in a statement issued by the Presidential Spokesperson, Mr Bayo Onanuga, on Thursday in Abuja.
Tinubu said his administration’s Nigeria First policy must translate into more contracts for capable Nigerian firms, greater use of locally manufactured equipment and more skilled jobs.
He encouraged IOCs to build stronger partnerships with indigenous engineering companies that had demonstrated the capacity to deliver complex projects.
The President also cited his administration’s 2024 executive orders and presidential directives on local content compliance, contracting costs and approval timelines as measures to attract investment and expand opportunities for Nigerian businesses.
Lee Engineering is handling the Engineering, Procurement and Construction (EPC) of two midline compressor stations in Edo.
The project is designed to enable the Escravos–Lagos Pipeline System (ELPS) to operate at its full capacity of 2.3 billion standard cubic feet of gas daily.
Although the ELPS II expansion increased the pipeline’s designed capacity from 1.1 billion to 2.3 billion standard cubic feet daily, the compressor stations are required to raise operating pressure and support full-capacity delivery.
The project is expected to strengthen gas supplies to power plants and industries, support exports to neighbouring West African countries through the West African Gas Pipeline and generate additional revenue.
Ikpea commended Tinubu’s Nigeria First policy, saying indigenous engineering firms had invested heavily in modern equipment, technology and skilled personnel.
He disclosed that Lee Engineering’s fabrication yard in Warri, Delta, was manufacturing some components for the compressor stations.
According to him, the facility houses some of the industry’s most advanced fabrication equipment.
Ikpea said Nigerian companies could now undertake complex EPC projects previously handled by foreign contractors, thereby retaining more jobs, expertise, and economic value within the country. #Tinubu Urges IOCs to Give Indigenous Firms More Energy Contracts# Human Capital, Nigeria’s Greatest Resource Not Oil — Tinubu
