Defence ministry signs MoU with Vowgas for fabrication of airboats
The Defense Research and Development Bureau (BRDB) of the Ministry of Defense has signed an agreement with MG Vowgas Group, an indigenous Engineering, Procurement, Construction and Installation (EPCI) company for fabrication of air boats for the Ministry.
The Defence Research and Development Bureau (DRDB), Air Vice Marshall (AVM) Jomo Osahor signed for the Ministry while MG Vowgas Chief executive Officer, Godwin Izomor signed for the company.
Speaking on the significance of the agreement to the company, Izomor said: “This has further demonstrated the federal government’s commitment to the actualization of a continuous increase of local content in all the critical sectors of our economy. For us, this is an opportunity to further create value and contribute to the betterment of Nigeria.”Izomor lauded the recent Service Level Agreement signed by the Nigerian Content Development and Monitoring Board (NCDMB) and the Oil Producers Trade Section (OPTS).with the aim of shortening the Nigerian oil and gas contracting cycle, which has been alleged to be one of the longest in the global oil and gas industry.
He said: “The new Service-level Agreement (SLA) amongst other things will boost investors’ confidence in the sector and usher in new players, reduce risk, increase the level of investment in the sector due to a quicker ROI, reduce drastically the cost of projects and terminate the unnecessary bureaucracy being experienced in the Nigerian oil and gas sector. This will significantly improve the Nigerian content in line with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.”
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