Nigerian law boosts the country’s domestic steel production

ABUJA (Scrap Monster): Chevron Corp, Total SA, Exon Mobil Corp, Eni SPA and Royal Dutch shell, are  the companies which had already established joint ventures with the state owned Nigerian National Petroleum Corp, who sucks up most of the country’s energy. According to the 2010 Nigerian Content Act, which suggests all the international energy agencies, comprising with the country’s energy agencies should halt the import of pipeline from foreign countries and should rely on the domestic production of pipelines.

In an interview conducted in Lagos, the executive Secretary of the Nigerian Content Development and Monitoring Board, (NCDMB), Ernest Nwapa, the demand for steel pipes in the country is definitely going to rise, as the country is planning to build a brand new network of gas pipelines in the process of replacing the old ones, and the country also anticipates a rise of four to five steel pipe plants in the country. He also stated that, the investors waiting to invest in steel pipe industries must see this as an opportunity.

The country is the biggest economy as well as oil producers and also comprises the largest gas reserves of Africa. In a plan to meet up with the power requirements with the help of natural gas, the country is boosting up its steel pipe manufacturing and extends its network to the country’s power stations.