In the year 2000, I started building what will turn into Nigeria's biggest storage terminals in Lagos and in Port Harcourt. I had just finished a seven year sojourn of working as an executive in other Nigerian oil companies and now positioned myself to become a local content player in Nigeria. When the Nigerian local content act came out, I was propelled to be local content leader in the Nigerian oil and gas industry, as I had built the requisite infrastructure required and put in place the best brains that I could get in Nigeria to help me operate in the downstream industry.
The passage into law of the Nigerian Local Content Bill is one of the significant developments in localizing management and control of the oil and gas industry. The bill received presidential assent on the 2nd of April 2010 and created a law to provide for a framework towards indigenous content in the Nigerian oil and gas industry.
In summary, the local content Law specifies that Nigerian independent operators should be accorded “first consideration” in the award of Oil and Gas related contracts and that Nigerian service companies should also be given “exclusive consideration” for contracts and services. Indeed experts believe that an agreeable scenario will be where Nigerian Companies are allowed to participate along International Oil Majors.
In 2010, I already had over 16 years of experience in the oil and gas industry. Nigerians started to have great confidence to be players along the entire value chain of the oil and gas industry, formerly, an exclusive domain of a few global players, whether it was in the downstream space, midstream, upstream or even in the services.
I pushed my group to start thinking outside the box and told them that it was time to develop more capacity across the entire value chain and that it was time to now play in the E&P sector and not just be leaders in the downstream sector. We moved upstream.
Just like I did in the downstream sector, I hired top Nigerian and foreign professionals who had worked in IOCs. We invested in very strategic systems, software and built up on a fast track basis, in-house capacity.
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