African countries to adapt Nigeria's local content policy on oil & gas

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.

In a statement released by the organisers and sighted by VAM News 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.

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.”

Executive Secretary of NCDMB, Engr. Simbi Wambote (standing) has been an advocate of local content policy Photo credit: @OfficialNCDMB Source: Twitter

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.

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.

08104964100 📞 For your Advert Placement, Press Release, Personality Promotion, Special Report, Conference, Interviews, Media And Publicity And So On

©VAM News

For conveniency, your comfortability, and easy access to the trending and latest info as the news breaks, Kindly DOWNLOAD *VAM News @ www.voiceairmedia.com* mobile App, Click Link below....https://m.apkpure.com/vam-news-media/com.wVAMNEWSONLINE_8865908