Nigeria Targets 70% Of Local Content In 2027

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LAGOS – The Nigerian National Petroleum Corporation (NNPC) and the Nigerian Content Development and Monitoring Board (NCDMB) have stated that they are committed to growing Local Content in the Oil and Gas Industry from the current 40 per cent to 70 per cent by 2027 as part of strategies to sustain economic development in country.

Dr. Maikanti Baru, NNPC Group Managing Director, made this commitment yesterday while delivering a keynote address at the 8th Practical Nigerian Content Conference in Yenogoa, Bayelsa State, stressing that strategies for implementing the NCDMB Local Content development includes closing human capacity gaps, skills acquisition and assets ownership by indigenous companies, among others.

He explained that the theme of this year’s Conference: “Driving Economic Development and Sustainability” is very relevant to NNPC, the Industry and the country at large given the considerable gains recorded in the nation’s Oil and Gas landscape.

According to him, as early as 2005, despite almost 50 years of a vibrant national oil industry experience, NNPC was concerned at the low level of Nigerian Content in the country and thus called for a fresh approach to domesticating Oil and Gas Industry spend through the establishment of the Nigeria Content Division (NCD) with the aim of identifying and guiding the implementation of key national content initiatives, including promoting local manufacturing of steel plates& pipes and developing engineering design expertise in the country.

He maintained that by 2010, when the Nigerian Oil and Gas Industry Content Development (NOGICD) Act was enacted, a National Content Coordination Framework, which incorporates the key stakeholders in achieving increased linkage of the petroleum sectors with other sectors of the economy, was established under NNPC’s Nigeria Content Division, stressing that the Division then metamorphosed into today’s NCDMB.

He enumerated the achievements recorded in the development of Local Content to include ramping up pipe mills from 100,000MT/annum to 420,000MT/annum, representing 40 per cent of industry demand and the sustainable engagement of indigenous service companies and contractors to carry out NPDC’s operations and maintenance activities.

Source: independent.ng