A Review of the Nigerian Energy Industry

Future Concerns invests N3bn to promote local content

Future-Concerns-Pix29 April 2014, Lagos – An indigenous firm, Future Concerns Group has invested over N3 billion in the setting up of a service centre for safety and protective equipment used in Nigeria’s oil and gas sector.

Speaking at the launch, which featured United States’ safety equipment manufacturer, and MSA Service, the Managing Director/Chief Executive Officer, Future Concerns, Mr. Tony Oguike, said the centre is targeted at promoting Federal Government’s local content initiative.

According to him, the centre is an intelligent one-stop shop safety resource, featuring best in class brands operating locally within global standards.

He noted that the centre is a cost-effective service programme, adding instant value and practical content to oil sector and other sectors of the economy.

“Prior to now, safety and protective equipment, which are high dollar equipment, are used as consumables. They cost about $6,000 each.

They were used and thrown away when faulty, thereby leading to loss of hard earned resources. With this centre, MSA will collect these materials, test and repair them for an insignificant amount of money,” he explained.

The decision to set up the facility, according to him, is to further its goals of helping to create jobs, empower Nigerian youth and professionals and also to create a healthy and safe work place.

He further stated that the company plans to set up a Personal Protective Equipment factory in Lekki and also delve into the upstream segment of the oil sector.

He declared that the company also plans to deploy robotic high rise cleaning solution, the next generation optimum solution for multi-story assets.

He said, “It was a natural progression to upgrade our infrastructure operating systems, inventory levels, man hours and all round posture from distributor to current state, service and maintenance resource, ultimately to a manufacturing company, while maintaining a high quality time, cost-effective support service for our most valued customers.” Also speaking, the Managing Director, Sub-Saharan Africa Region, MSA, Mr. Colin Oliver, said the partnership is aimed at promoting Nigerian content in the oil and gas

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