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From Uche Usim, Abuja
As insecurity ravages the country, an Oil and gas expert and Chief Executive Officer, Lee Engineering and Construction, Dr Leemon Ikpea, has urged the government to immediately float a national security fund into which International Oil Companies (IOCs) and local firms can pay a percentage of their profits to tackle the menace and ultimately grow the economy.
Ikpea made the suggestion in Abuja on Thursday at an interactive session with journalists to celebrate the 31st anniversary of his firm.
According to him, no sustainable development can take place in an atmosphere of chaos, noting that creating a conductive operating environment remains the most fundamental thing to do before expecting investments and growth.
He also urged the government and relevant stakeholders to mandate International Oil Companies (IOCs) to patronise local firms because from his over 40 years experience in the oil and gas industry, there is no empirical evidence to show that expatriates are not more competent and experienced than Nigerian technicians and engineers.
He maintained that overflooding of the oil and gas space with foreign hands when there are capable local expertise was robbing Nigeria of the fortunes that should come to it.
He lauded the federal government and the Nigerian Content Development and Monitoring Board (NCDMB) for the renewed attention to boosting local production of equipment used in the oil industry.
He stated that from almost zero participation, Nigerians now occupy major positions in the oil and gas industry, stating that the multi-million dollar fabrication factory under construction by the firm will be ready sometime next year.Ikpea, a veteran of the industry stated that foreigners are wary of technology transfer because it will eventually take away their jobs, but insisted that Nigeria must develop its local economy to be able to play big at the world stage.
The Lee Engineering CEO, who explained that his humble background would forever remain a motivation to help the needy, noted that the current Nigerian Content Development and Monitoring Board (NCDMB) management must be encouraged, stressing that they
have continued to do a good job, having increased local content to about 50 per cent.
While underscoring the importance of hard work and integrity, Ikpea stressed that Lee Engineering has been diversifying its portfolio , including the floating of Kizi, one of the companies which recently won one of the marginal fields awards, the aviation subsidiary as well as the travels and tour company, among others.Ikpea urged the federal government to tackle insecurity, pointing out that the company is losing a lot to insecurity since it has exited sites it was supposed to be doing engineering and construction work.
Ikpea bemoaned the incessant vandalism of national oil and gas assets which is currently robbing Nigeria from taking advantage of the high international oil prices, but noted that the Nigerian National Petroleum Company Limited (NNPC) was doing everything to ramp up supply.
“So if they vandalise the pipelines, how would the production go to where they’re supposed to get to. By the time you put more oil there , it doesn’t get to the destination.
“We need to tackle insecurity immediately. But the effort they’re putting in, including the military, the NNPC, everybody is supporting to fight this evil. I’m pretty sure in the next two or three months you’ll see the difference,” he assured.
Using his upcoming factory as an example, Ikpea stated that by April next year, his fabrication subsidiary, Lee Engineering International Machinery Services Limited which will produce high pressure vessels, heat exchangers, scrubbers , among others will be fully ready.
According to him, while over 2,000 personnel from all over the country currently work for the company, majority of those employed are from communities in the Niger Delta which are also host communities to the company.
The Lee Engineering CEO stated that many banks in Nigeria have the capacity to fund many projects in the industry, but stressed that businessmen in the industry must be honest with their bankers to earn their trust in the long term.
Pointing out that he’s a man of faith, Ikpea noted that in the next five years, Lee Engineering will double its staff and create more employment for Nigerian youths.
“This company builds special equipment for the oil and gas industry. The people working here are Nigerians. We will earn foreign exchange, and will be a boost for local suppliers, vendors will supply raw materials and it will have multiplier impact on the industry,” he stated.
He stressed that the local content sector has improved tremendously in the last few years, assuring that in the next five years, Nigeria’s participation in the industry could hit 90 per cent.
A doyen of the industry, Ikpea said his Foundation, Leemon Agboinjagwe Ikpea, has trained more than 40 medical doctors, hundreds of orphans and widowers as well as orphans as a result of his being in touch from where he’s coming from as a poor Nigerian.
According to him over 190 Nigerians are currently on scholarship in different fields all over the country, plus 40 medical doctors, noting that the foundation has sent hundreds of Nigerians to receive treatment abroad for critical health problems.
Ikpea stated that Nigerians are capable of turning around the fortunes of the downstream sector, pointing out that Nigerians built the Warri refinery even decades ago.
