Latest News

Wabote Charges Oil firms On Diversification, Energy Transition, Commissions GIL Automation’s Factory

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote on Thursday in Lagos commissioned GIL Automations’ cable tray and switchgear factory and the opening of its new building.

The company offers an array of services in electrical and automation services, switchgear manufacturing and panel solutions as well as process management and flow control.

The Executive Secretary lauded the company for expanding from the provision of service to manufacturing, noting that such progression shows that Nigerian oil and gas service companies are taking up the challenge to grow their outfits and contribute to the development of in-country capacities and capabilities, providing key services for the sustenance and growth of the industry and its linkage sectors.

He said: “The business shift from service to the manufacturing of electrical and automation components under your leadership is a very strategic move that we are very excited about.”

He remarked that GIL Automations had developed the capacity to provide world-class services across the oil, gas, manufacturing, and power industries, and created a niche for industrial automation, instrumentation, electrical, control, communication, and safety systems. The extension of the company capacities to other sectors helps to meet the strategic initiatives established under the Nigerian Content 10-year Strategic Roadmap, Wabote said.

He added that “as an ISO9001 certified local manufacturer of low voltage Electrical products in line with international standards, the products are not only meant for the local market, but also in high demand within the regional and continental markets.”

Speaking further, Wabote emphasized the need for Nigerian oil and gas service providers to widen the application of their services to other sectors of the economy instead of solely relying on the oil and gas sector. He noted the cyclical nature of the oil and gas industry, stressing that every discerning service company needed to have a model to adapt to any prevailing circumstance.

He said the ongoing energy transition further underlined the necessity for companies to think differently and acquire new capabilities, to enable them to operate successfully in the energy transition environment, without being unduly worried about their survival.

He recalled that companies converted their factories at the peak of COVID-19 to produce some of the needed items at that time, adding that “this same ingenuity is required of the service companies to take a look at their service equipment, modeling software, personnel, and other assets to check the opportunities they are over-looking due to being fixated on contracts from the oil and gas industry.

If they don’t meet these criteria, they would not have a partnership with Siemens. The association is not by compulsion, it is not by provisions of the Act. They see a mutually beneficial relationship in the type of service they provide.

PBA Reporter

Recent Posts

CBN, Fintechs And Money Laundering

An important development that occurred in the financial services industry the other week went largely… Read More

2 hours ago

UBA Empowers 400  Youths Across Africa Through Graduate Programme

Africa’s Global Bank, United Bank for Africa (UBA), has empowered 398 young Africans through its… Read More

2 hours ago

World Press Freedom Day: Guild Of Editors Tasks N’Assembly On Law To Protect Journalists

The Nigerian Guild of Editors (NGE) has called on the National Assembly make law that… Read More

5 hours ago

How Govt Palliatives Push Food Inflation – CBN

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has stated that the government's… Read More

6 hours ago

Equity Market Sees Second Consecutive Day Of Gains, Investors Gain N303bn

The Nigerian equity market defied expectations on Thursday, May 2, 2024, as investors recorded gains… Read More

6 hours ago

Naira Depreciates Further, Trades At N1,402 Against US Dollar

The naira continued its downward trend, losing value against the US dollar on Thursday at… Read More

7 hours ago

This website uses cookies.