The Governor of Lagos State, Mr. Babajide Sanwo-Olu officially commissioned the Monarch Alloys Limited 3LPE and Concrete Weights Loading Plant today in Ikorodu, noting that the facility affirms the ambition of Lagos State to become Africa’s number one investment destination.
In his keynote address delivered by the Secretary to the Government of Lagos State, Barr. ‘Bimbola Salu-Hundeyin, Governor Sanwo-Olu noted that the pipe coating facility with a capacity for two million square meters per annum is equipped with state-of-the-art technology for producing concrete weights and 3-Layer Polyethylene (3LPE) pipeline coatings.
Governor Sanwo-Olu described the plant as a testament to investor confidence, local ingenuity, and the government’s relentless drive for economic diversification, and a strategic leap forward in infrastructure and industrial development in Lagos. He added that it will significantly boost local content, elevate the state’s capabilities in pipeline infrastructure, and fortify the oil and gas value chain.
Mr. Sanwo-Olu emphasised the importance of the project in line with the State’s economic blueprint for 2025 and beyond, which focuses on inclusive growth, youth empowerment, and industrial transformation. He applauded Monarch Alloys Limited for their commitment to excellence, environmental sustainability, and job creation as well as visionary leadership and investment in a facility that is expected to significantly contribute to national economic growth and infrastructural excellence.
He reiterated his administration’s unwavering commitment to providing a business-friendly environment through innovation-driven policies, infrastructure development, and youth empowerment initiatives.
He further stated that the strategic siting of the plant in Ikorodu is another milestone in decentralizing industrial growth and creating sustainable jobs across the state in addition to demonstrating what’s possible when vision meets execution, expressing confidence that the plant will play a critical role in bolstering the construction, oil and gas, and maritime sectors by producing essential materials that ensure safety, durability, and performance across high-impact projects.
The Minister of State, Industry, Trade and Investment, Senator John Enoh and Minister of State for Petroleum, Senator Heineken Lokpobiri commended the company for the facility. They noted that the plant commissioning aligns seamlessly with the agenda of President Bola Ahmed Tinubu to reduce dependency on the importation of pipe coating and urged oil companies to patronise Monarch Aloys Limited.
The Managing Director, Monarch Alloys Limited, Mr. Atul Chaudthary disclosed that the company was ending steel importation into Nigeria having grown steadily to become one of the leading producers of steel in the country. He added that it took 18 months to complete the plant.
In his remarks, the Executive Secretary of the Nigerian Content Development and Monitoring Board, Mr. Felix Ogbe, said the facility represented another step forward in Nigeria’s ability to provide advanced pipeline infrastructure which is designed, built, and completed in Nigeria.
In attendance were Senator Representing Lagos East, Adetokunbo Abiru; former Minister, Industry, Trade and Investment Otunba Niyi Adebayo; Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, Mrs. Folashade Ambrose-Medebem; industry stakeholders, government officials, and Ayangburen of Ikorodu, Oba Adewale Shotobi amongst others.
