Stakeholders to Set Local Content Agenda as Nigeria Targets 70% Mark
With Nigeria achieving 61 per cent local content against the 70 per cent target set for 2027, stakeholders in the oil and gas industry will meet in Yenagoa, Bayelsa State,
As Nigeria has reached 61 percent local content against its 70 percent target set for 2027, stakeholders from the oil and gas sector will convene in Yenagoa, Bayelsa State for the 15th Practical Nigerian Content (PNC) Forum. Organized by dmg Nigeria Events in collaboration with the Nigerian Content Development and Monitoring Board (NCDMB), the forum aims to establish priorities for the upcoming decade's local content initiatives.
The discussions will concentrate on maintaining advancements, tackling capacity gaps, and amplifying indigenous engagement within the industry, surpassing the existing 2017-2027 Nigerian Content Strategic Roadmap. Notably, key investment projects like Shell’s $2 billion HI Field and the $5 billion Bonga North project, as well as the increasing influence of local operators due to international oil companies' asset divestments, have prompted this discussion.
The Portfolio and Country Director of dmg Nigeria Events, Wemimo Oyelana, highlighted that the forum will transition from tracking progress to determining priorities for the subsequent phase of local content development. The agenda will cover financing strategies to enhance access to capital and empower indigenous enterprises to undertake intricate projects.
Furthermore, participants will investigate procurement prospects, supplier growth, and methods to bolster local capabilities. The policy sessions will delve into regulatory overhauls essential to adapt to market shifts, technological progress, and investor anticipations while enhancing adherence to guidelines.
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