Tinubu Boosts Investor Confidence in Nigeria's Oil Sector

In an interview, Mr. Godwin Izomor, the Managing Director and Chief Executive Officer of MG Vowga, highlighted the positive impact of President Bola Tinubu's administration on investor confidence in Nigeria's oil and gas sector.

He noted that the administration has created an enabling environment that has attracted foreign investors. Izomor emphasized the importance of local capacity development and the critical role of a functional steel roll mill in Nigeria's industrialization efforts.

He pointed out that the absence of such a facility hampers the oil and gas industry, which relies heavily on steel for various operations. Izomor also mentioned that MG Vowga is the first indigenous company to sustain the American Society of Mechanical Engineers (ASM) certification, which is vital for local companies to thrive.

He urged the government to consider establishing a new steel roll mill using local content funds to reduce Nigeria's dependency on steel imports, which cost the country approximately $4 billion annually.