The Senate President, Ahmad Lawan, has said for Nigeria to experience exponential economic growth, efforts must be made to expand the implementation of local content.
Speaking on Wednesday at the virtual opening of the Nigerian Content Summit organized by the lawmakers, Lawan said: “We are actually at a time for more inward reflection, through the enhancement of internal capacity, towards productivity and efficiency, for national progress.
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“This is all to satisfy the yearnings and aspirations of the people,” Lawan added.
The Speaker, House of Representatives, Femi Gbajabiamila said Nigeria must look inwards to develop the skills and capacities required for local production to sustain itself against the backdrop of the current economic realities.
“These Bills reflect and represent this national imperative,” he added.
The Minister of State for Petroleum Resources, Timipre Sylva, however, called for collective effort and sustainable synergy in the drive to grow local content in different sectors of the economy.
The Chairman of Senate Committee of Local Content, Senator Teslim Folarin said the legislations seek to consolidate on the gains made in implementing local content in the oil and gas industry.
The Nigerian manpower content level in the Nigerian oil and gas sector currently stands at 30%.
In 2018, the country embarked on a 10-year strategic roadmap to achieve 70% by 2027.
