Nigeria to Host African Oil & Gas Local Content Roundtable

Nigeria to Host African Oil & Gas Local Content Roundtable

- Nigeria is set to host the first African oil and gas local content roundtable

- The roundtable is in recognition of Nigeria's local content as a key development imperative for the domestication of its hydrocarbon resources

- Experts say critical stakeholders in the oil and gas sector in Africa have been fascinated by the remarkable impact and achievements of Nigeria

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The Nigerian Content Development and Monitoring Board (NCDMB) is set to host the maiden edition of the African Local Content Roundtable.

The initiative is in a bid to institutionalize peer review mechanism among African oil-producing countries on local content as a key development imperative for domestication and sustainable growth of Africa’s hydrocarbon resources.

The organisers in a statement sent to Legit.ng on Tuesday, May 11 noted that over the years, critical stakeholders in the oil and gas sector in Africa have been fascinated by the remarkable impact and achievements of Nigeria in the implementation of the Nigerian Oil and Gas Industry Content Development Act.

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Nigeria to Host African Oil & Gas Local Content Roundtable
Executive Secretary of NCDMB, Engr. Simbi Wambote (standing) has been an advocate of local content policy Photo credit: @OfficialNCDMB
Source: Twitter

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They also noted that the development of Nigeria's hydrocarbon resources is anchored on the philosophy of in-country value addition.

It stated that African countries such as Uganda, Ghana, Niger Republic, Congo have at various times undertook a study tour to institutions in Nigeria, to understand the Nigerian Content delivery model.

It added that the African Petroleum Producers Organization charter on bilateral cooperation among African oil-producing countries is also a bold step to galvanize African countries towards regional cooperation in the area of developing capacities and capabilities to deliver oil and gas services within the continent.

Part of the statement read:

“The proposed annual African Local Content Roundtable will herald the creation of a structured engagement platform among African countries to discuss local content and sustainability in hydrocarbon development.”

The event scheduled to hold in Yenagoa, the Bayelsa state capital will host several dignitaries and policy leaders in the oil and gas, government, development agencies, and related sectors connected to the oil and gas sector.

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Some of the expected guests will include the Chairperson of the African Union Commission, the Secretary-General of the Africa Continental Free Trade Agreement, and heads of Africa Development Organizations.

The two-day event will be hosted at the NCBMB Towers, Yenagoa, Bayelsa state, from Thursday, June 3 to Friday, June 4.

Meanwhile, Edo state governor, Mr. Godwin Obaseki, on Tuesday, March 16 called for upward review of the 13 percent derivation formula due to south-south states.

Governor Obaseki said the 13% due to oil-rich states in the country had remained inadequate for the development of the region.

In a related development, Delta state governor, Senator Ifeanyi Okowa, has called on the federal government to activate work on the Gas Revolution Industrial Park project in Ogidigben and ensure that its essence is achieved.

Governor Okowa made the call while speaking to journalists after inspecting the ongoing construction of the multi-billion naira floating market at Ogheye in Warri North council area on Friday, April 30.

He said that the Gas Revolution Industrial Park project had been delayed for too long and urged the federal government to immediately look into the issues surrounding the delay.

Source: Legit

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