Nigerian Government to Implement Local Content Law

Dr. Goodluck Jonathan of Nigeria

The Federal Government of Nigeria has assured that it’s now ready for the full implementation of the Nigerian oil and Gas Industry Content Development Act of 2010.


Speaking at the inauguration of the Governing Council of the Nigerian Content Development and Monitoring Board which was established under the Act, the President, Dr. Goodluck Jonathan said that the move will facilitate the rapid industrialization of the country.

He noted that Nigeria must use the increased application of local content in its oil and gas industry to stimulate investments that will positively transform other sectors of its economy and create more jobs for the unemployed.

He said that his administration is painfully aware of the limitations of local capacity in manufacturing for upstream and downstream operations adding that the situation, coupled with weak participation of Nigerian’s operating and service companies in the industry; and the non-inclusion of indigenes of producing communities in the economic activities of the sector must be reversed.

Dr. Jonathan said that to convert Nigeria’s oil and gas industry from one that imports most of its essential goods and services, the Federal Government will be “consistent and unwavering” in the implementation of the local content law.

“This will domicile significant proportions of industry derivatives and keep commensurate revenue in Nigeria to drive the rapid industrialization of our economy,” Dr. Jonathan said.

Congratulating the members of the council headed by the Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke on their appointment, the President told them that they had a unique opportunity to reposition Nigeria’s oil and gas industry for the greater benefit of its citizens. “You cannot afford to fail in this important national assignment,” he said.

It needs to be noted that other members of the council are Dr. Joseph Dawha, Mr. Emmanuel Bekee, Dr. Shaibu Teidi Sani, Mr. Shawley Coker, Prof. Mike Onyekonwu, Chief Olumuyiwa Ajibola and Mr. Fola Daniel.