The Honourable Minister, Federal Ministry of Marine and Blue Economy, His Excellency, Adegboyega Oyetola on Sunday visited the Kaztec Engineering Facility located in Snake Island, Ilashe, Lagos State.
The purpose of the visit was to explore effective strategies for revitalizing the oil logistics facility, which was shut down due to a force majeure event in February 2015. This move is aimed at bolstering the Nigerian economy and promoting growth within the sector.
During his visit, the Honourable Minister expressed his commitment to resuscitating the facility and highlighted the urgent need to tap into its untapped potential. He emphasized that rejuvenating the Kaztec Engineering Facility would not only generate economic benefits for Nigeria but also contribute to the growth and development of the marine and blue economy sector.
The Minister assured the public that he, in collaboration with other relevant stakeholders, would leave no stone unturned in ensuring the full recovery and operationalization of the facility.
The Kaztec Engineering Facility, previously renowned for its oil logistics operations, served as a strategic hub for the fabrication, maintenance and installation of Oil and Gas logistics. Its closure in 2015 had a significant impact on the local and national economy having been created over 10,000 direct and indirect jobs. However, with the Minister’s visit and commitment, there is renewed hope for the facility’s revival.
Recognizing the importance of the oil and gas sector to Nigeria’s economic landscape, the Honourable Minister stressed that reviving the Kaztec Engineering Facility aligns with President Tinubu’s broader vision to attract foreign investments, create employment opportunities, and enhance domestic capacity in the maritime industry. The facility’s operation not only supports Nigeria’s oil and gas exports but also plays a crucial role in the country’s energy security.
Consequently, Chief Oyetola had during the visit pledged to collaborate with stakeholders, industry experts, and investors to develop a comprehensive and sustainable plan for the resuscitation of the Engineering Facility.
He said: “This is massive. This is the kind of things we want to see from Nigerians. We want to see Nigerians who believe in Nigeria and are willing to invest in their beloved country”.
“I will go back to discuss all the stakeholders involved and we must get this place to work. I am assuring you that, we will support this indigenous company. We want to encourage others to invest in Nigeria”
The Chairman of KAZTEC Engineering, Sir (Dr.) Emeka Offor while speaking during the inspection, pointed out that the shut down of the facility was not doing the Nigerian economy any good as thousands of jobs have been lost and several dreams shattered for this reason.
His words; “This project was conceived to grow the Nigerian economy. I love this country and that is my major motivation.
“Nigeria is losing so much forex by bringing in foreign companies to do these things. These International Oil Companies (IOCs) are only interested in profits but it is not the same with us, we are Nigerians. We have the manpower and experience to do these things as an indigenous company.”
Present at the inspection was Nigeria’s former Senate President, Chief Ken Nnamani, Senator Magnus Abe, the Technical Director of KAZTEC Engineering, Mr. Mike Simpson and many other dignitaries.
Recall that the Nigerian Senate Committee on Upstream Petroleum, led by it’s Chairman, Senator Etang Williams had on Saturday conducted an on-site inspection at the Kaztec Engineering Facility in it’s effort to revitalise the facility.
Kaztec Engineering Limited is a 100% indigenous Engineering, Procurement, Installation, Construction, and Management (EPIC-M) Company. Incorporated in 2005, Kaztec become the pace setter EPIC-M company in Onshore/Offshore Pipelines and Facilities engineering until Addax Petroleum Limited declared a controversial force majeure that has led to job losses, financial and economic losses and business failures that has brought the company to this point.
Source/ Kaztec Media.