Nigerian Gas and Steel decries capital flight on importation

06 October 2015, Lagos – Nigerian Gas and Steel (NGSL) Limited has decried the increasing capital flight on importation of steel pipes by Nigerians and restated its commitment to save the huge capital flight for the country’s economic growth.


Steel products

Managing Director of the company, Hasib Moukarim said in a statement at the weekend that the company was well- positioned to serve the domestic market with quality steel materials that match the international standards.

He therefore enjoined Nigerians to patronise local products in other to save the huge capital flight.

Apart from saving capital flight, Moukarim said patronisation of local products would equally enhance local capacity as a way of generating employment.
He however harped on the builders like architects, structural engineers, fabricators and consultants on the importance of Hollow Structural Sections (HSS), a steel pipe for its cost saving and durability for constructions.

Moukarim called on builders to consider HSS while soliciting for building material for clients noting that this will reduce to the barest minimum, the spate of building collapse in the country.

“By soliciting for the right steel which is HSS, a steel pipe and tubes for construction of warehouses and buildings, the clients gets the cost saving and the professionals get the credit,” he said.

Moukarim added that HSS is a type of steel tube produced by NGSL and have greater strength to weight ratios than wide flange beams saying HSS has been described by the Steel Tube Institute of North America as The Design Material of the 21st Century.

According to the NGSL boss, most of the new airport terminals and shopping malls in the world are built by HSS because of its big save costing and superior strength; since builders need less steel to do the same job, and less tonnage of weight equals less cost.

“HSS have excellent compression characteristics and exceptional torsional resistance and is available in commercial sizes for the construction of warehouses, terminals, billboards, bridges, malls and towers. It is also used in casing boreholes and for piling soft grounds”, Moukarim added.

NGSL has been operating in Nigeria for the past 38 years and the oldest steel pipe manufacturing plant in the country for the furniture industry and metal fabricators.

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