Pushing the Boundaries in the Development of Local Capacity and Nigerian Content in the Oil and Gas Industry.

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Pushing the Boundaries in the Development of Local Capacity and Nigerian Content in the Oil and Gas Industry.

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NBCC MARCH BREAKFAST MEETING

On Friday 3rd of March 2017, the Nigerian British Chamber of Commerce held its first Lagos Breakfast Meeting at Intercontinental Hotel Lagos. The event which had over 125 distinguished guests in attendance including Alhaji Gambo Ahmed, the Executive Director – Nigerian Maritime Administration and Safety Agency (NIMASA) was a huge success.

The experts, who gathered to discuss “Pushing the Boundaries in the Development of Local Capacity and Nigerian Content in the Oil and Gas Industry,” at the March breakfast meeting were optimistic of the huge potential in the sector but demanded an urgent intervention to enable the nation develop local content in order to create desired growth.

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Prince Dapo Adelegan, President & Chairman of Council NBCC enjoined Government to make continuous strides in ensuring that the daily crude oil production of Nigeria hit three million mark by 2020.

The President also spoke on the creation of a technical institution that would enable young Nigerians acquire necessary skills that would help them participate in oil and gas business in the Country while stating the need to globalise Lagos Deep Offshore Logistics Base (LADOL).

The Guest Speaker at the event, who is also the Managing Director of Lagos Deep Offshore Logistics Base (LADOL) Dr. Amy Jadesimi said: ”Nigeria has the potential to be the hub of West Africa so if you add the fact that we have not built the infrastructure to drive development and to get business from the whole of West Africa. So an excess of about $30 billion has been lost because we have allowed our industries to be dominated by foreign controlled monopoly.”

15Dr. Jadesimi, who was very futuristic in her presentation, urged the Government and players in the sector to enforce law and policies and increase local collaboration to enable Nigeria take advantage of West Africa’s $200 billion market.
“Our market is so huge that if you add a little bit of value you will realize a tremendous value, not just for investors but for your clients and even for the foreign partners that you are working with.

“We don’t have a level playing field because we still have people in the Government, who want monopoly. There are people who are sabotaging the country economically,” she said.

The Vice Chairman Oil & Gas Sector NBCC, Mr Akin Osuntoki listed the gaps in Nigeria’s Content Development as follows:
1. Human Capital Gap
2. Financing Gap
3.Gap in fast tracking GDP.
He also mentioned that LADOL provides a one-stop-shop for multinational industrial oil & gas companies operating in West Africa.

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In her closing remarks, the Chairman Oil & Gas Sector Group NBCC, Hajiya Aisha Abdurrahma, said Nigeria must find every means to develop the sector and retain the money lost to foreign players.
She urged players in the sector to appreciate contributions made by local organisations, adding that effective strategy is needed by local players to meet international standard.

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