‘Nigeria Local Content Law Growing Indigenous Oil Industry Capacity’

Chairman of Independent Petroleum Producers Group (IPPG), Mr. Abdulrazaq Isa, has stated that the 27-member indigenous oil and gas exploration and production group is a product of the Nigerian Content policy of the Federal Government which is a clear testimony that the policy has recorded huge success.

“The emergence of the strong indigenous Exploration and Production companies is a testament to the successful local content policy. There is no better or clearer way to demonstrate that Nigerian Content is working”, said Isa during his speech at the opening ceremony of the 11th Practical Nigerian Content Forum (PNC) which took place in Uyo, Akwa Ibom State recently.

The IPPG Chairman said that Government’s effort in deepening local content in the Nigerian oil and gas industry is paying dividends and it is imperative that the effort is sustained and greater focus placed on bridging the capacity gap and addressing funding challenges.

“Nigerian-owned companies are beginning to play more active roles across the industry. Indigenous companies are now penetrating areas that were once solely dominated by foreign players’, Isa said.

He reaffirmed IPPG’s commitment to full compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGIC) Act adding that the group will continue to partner with the Nigerian Content Development and Monitoring Board (NCDMB), as it aims to strengthen in-country capacity and increase Nigerian Content, and all relevant stakeholders for the benefit of the industry as well as Nigeria.

RELATED

Guinness Joins Big Brother Naija Season 10 As Gold Sponsor

35 minutes ago

PCNGI Facilitates $800m Investments, As Converted Vehicles Exceed 100,000 In 1 Year

42 minutes ago

The IPPG states that the theme of the conference – “Deepening Nigerian Content Opportunities in the Decade of Gas” underscores the importance of re-positioning Nigeria’s oil and gas industry in the face of the ongoing global energy transition as well as divestment of assets by the International Oil Companies (IOCs) in Nigeria.