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CEO wants import waiver, tax relief for indigenous fabrication companies

 

The Federal Government has been urged to grant import waiver and tax relief to indigenous fabrication companies to enable them support the government in job creation and to boost the economy.

Receiving the Minister of State for Petroleum Resources, Chief Timipre Sylva, the Executive Chairman of Lee Engineering Company fabrication plant, in Warri, Delta State,  Dr Leemon Ikpea, said the organization had continued to invest in the nation’s construction industry despite the devastating effects of Covid-19.

The ultra-modern manufacturing and fabrication workshop with state-of-the-art equipment has the capacity for manufacturing heat exchangers, pressure vessels, process skids, tanks and other important oil and gas tools.

Ikpea said Lee Engineering and other indigenous companies who have supported the government over the years, in the areas of job creation deserved support in the form of tax holiday and import waiver on imported materials for fabrication.

“We seek for waiver on import duties and tax relief for indigenous companies like Lee Engineering that are contributing immensely to the economy.

“Despite the adverse and devastating effect of COVID19 on business and the economy, we deliberately refused to reduce of workforce because of our commitment and support for the government,” he said.

Ikpea said the company ventured into the multi-million dollars fabrication project in Warri as a firm believer in and champion of the Federal Government Local Content Initiative to grow local capacity and develop in-country technological advancement.

“When fully operational, this facility will create more employment for Nigerians, reduce cost of importation and conserve foreign exchange for the nation and improve foreign exchange earnings for our nation and eventual advanced technology transfer to the nation”.

The Lee Engineering boss said in the company’s 30 years of existence, it has remained committed to the development of the oil and gas Industry.

“The company has made its marks and left giant footsteps in both the upstream and downstream sectors of the industry.

“From major projects in all the refineries, with direct impact on plant capacity utilization and on-stream availability to major projects with the IOCs and NNPC.

” All these had been engineered and constructed to world standards and remain devoid of any clients’ dissatisfaction or complaints.

“We are already at advance stage of works on the Assa North Ohaji Project which is the first of the 7 Critical Gas Development Projects of the Federal Government for Domestic Gas improvement. We have also progressed work on the Gbaran Nodal Gas Compression Project in Bayelsa state,” he told the visiting minister.

He recalled the company’s contributions to the development of local participation in the growth of the oil and gas industry, nothing “our strength lies in our uncompromising stance on best practices in our work standard, quality control procedures, work compensation policy, total compliance to safety standards and the experience of our workforce whom we hold in very high esteem”.

Ikpea stressed the cordial and harmonious relationship the company maintained with all stakeholders in the industry and the host communities of the areas of our operations coupled with as well as its robust Corporate Social Responsibility.

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Written by Per Second News

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