Sen. Albert Advocates Extension of Local Content Policy to other Sectors

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Chairman, Senate Committee on Petroleum Resources Upstream, Senator Bassey Albert Akpan (OBA) on Tuesday, May 19, 2020 called on his colleagues to extend the scope of the Nigerian content policy beyond the oil and gas sectors of the economy to enable Nigerians take charge of the commanding heights of the economy.

Speaking on the floor of the Senate during the second reading of the Bill of an Act to amend the Nigeria oil and gas Industry Content Development Act 2010 and for other matters connected thereto, 2020, sponsored by Senator Folarin Teslim, Senator OBA said:

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“We may not be where we are supposed to be but we are not where we used to be. We must extend this bill beyond the oil and gas sector and do same for the other sectors of the economy”.

The bill seeks to amend 38 sections in the extant Act while introducing six new provisions. These amendments are meant to bring the provisions of the law at par with current global best practices in the oil and gas industry.