Ikpea seeks import waiver, tax relief for indigenous fabrication companies

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Minister of State, Petroleum Resources, Chief Timipre Sylva (right) in a handshake with Executive Chairman, Lee Engineering Group, Dr Leemon Ikpea, during a tour of the company’s fabrication plant in Warri, Delta State, on Friday

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

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In a welcome address during a tour of facilities at Lee Engineering Company’s fabrication plant, in Warri, Delta State, on Friday by the minister of State Petroleum Resources, Chief Timipre Sylva, executive chairman of the company, Dr Leemon Ikpea, said the importance the organisation places on Nigeria, informed its decision to continue to invest in the country despite the devastating effects of Covid-19.

Ikpea said Lee Engineering and other indigenous companies who have supported the government over the years in the areas of job creation, deserve 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 our workforce because of our commitment and support for the government,” he said.

Ikpea said Lee Engineering ventured into the multi-million dollars fabrication project in Warri “as a firm believer and champion of the Federal Government Local Content Initiative to grow local capacity and develop in-country technological advancement.”
He disclosed that “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 since the 30 years of the company’s existence, they have “been committed to the development and success of the Oil & Gas Industry“, adding that 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 utilisation 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 advanced 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 Sylva.

He emphasised the company’s contributions to the development of local participation in the growth of the oil and gas industry, noting that “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 maintains 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.

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

 


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