Local Content and Oil Exploration and Production in Nigeria
26 Pages Posted: 8 Jun 2022
Date Written: February 9, 2022
This Research Work is Titled Local Content and Oil Exploration and Production in Nigeria. In the past, the major players in the oil and gas industry in Nigeria were the international oil companies (IOCs). There was inadequate skilled workforce in the industry especially with respect to indigenous participation in the oil and gas projects. Consequently, the IOCs relied heavily on expatriates to carry out projects in the oil and gas industry in Nigeria which ordinarily would have been handled by Nigerians. In order to boost local participation in the oil and gas projects and create more employment opportunities for the locals, the federal government of Nigeria in 2010, enacted the Local Content Act in recognition of the inadequacy of the indigenous human capital development in the oil and gas industry in Nigeria. However, the Local Content development policy of the federal government is without some problems which have affected the effective and efficient implementation of the policy. This paper therefore, examines the local content development policy of the federal government identifies its problems and prospects, and makes appropriate recommendations.
Keywords: Local Content, Legal Framework, Indigenous Participation in Oil and Gas Production, Corruption, Khalifa Binu Yahaya
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