Business

Stakeholders Commend Nigerian Company on Local Production

Stakeholders in the oil and gas industry have commended a Nigerian company, Nigeria Machine Tools (NMT) Limited on its effort to boost local production despite the harsh manufacturing terrain in the country.
 
NMT in a statement issued to THISDAY said stakeholders made this commendation during its recently concluded annual Nigeria Oil and Gas Conference tagged NOG 2014, which generated considerable excitement among the oil and gas industry stakeholders when it participated at the event.
 
NMT added that stakeholders and visitors were thrilled about the company’s capacity to produce highly sought after flanges, stud bolts and nuts locally saying that with this development, there would be no need to travel abroad to get highly sought after equipments needed to carry out operations in the industry.
 
The event which was held at the International Conference Centre, Abuja attracted the stakeholders in the Nigerian oil and gas industry as well as service providers from across the world to showcase their products and services at the four day event.
 
A visitor at the conference who is also a registered vendor with the International Oil Companies (IOCs) said: “We the suppliers to the IOCs are always on the lookout for better channels to source products for our clients and quality comes first before cost in this industry. One thing i can tell you is that, if what I see here today is what is obtainable abroad, then why will I have to go all the way to Asia or America to purchase the same products that I can easily get in Osogbo at the same spec and standard with what the foreign companies sell to us. I am very happy, Nigeria is gradually getting there.”
 
Other visitors to NMT’s exhibition stand included top officials of the IOCs, Original Equipment Manufacturers (OEMs),  OSCs, Nigerian National Petroleum Corporation (NNPC), Ministry of Power, Petroleum Technology Development Fund (PTDF) and many others who came back repeatedly to either inspect the products on display or to hold discussions with the company’s representatives at the event.
 
NMT’s Business Development Manager Mr. Ikemefula Chikwendu said, ‘the outing was a good one for the company saying that NMT has come to gain visibility and believes NMT would gain its desired position in the oil and gas industry.
 
“The NOG happens to be the premier oil and gas annual gathering in sub-Saharan Africa and we have every reason to be here as we stand to benefit from the participation,” he added.
 
“We had several visits from the IOC’s, OEMs, servicing companies as well the contractors who have been asking technical and commercial questions in relation to our products.  The interest is very visible, this is a wonderful exposure for us and we shall be here next year,” he said.
 
NMT is the first producer of oil industry branded stud bolts and Nuts in West Africa. They are produced to specific Industry standards including; ASME B18.2.1, and material specification of ASTM 193, 307 and 320, Grades B7, B7M, B16, B8, B8M, L7, L7M with a wide range of surface treatment options to meet client specification or to suit operational environment. NMT also produces machine tools, customised machine spares, machining services, technical training, foundry products of various sizes and design.

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