The Minister of State for Petroleum Resources, Ibe Kachikwu, speaking at the just-concluded Nigerian Content Workshop in Imo, has charged the Nigerian Content Development and Monitoring Board (NCDMB) to ensure that the Nigerian oil and gas industry is able to produce all its needs by the year 2027, The Sun reports.
He said the Federal Government expects that over the next 10 years, the Nigerian oil and gas industry, in collaboration with foreign investors would have developed in-country capacities and capabilities to produce all its offshore platforms locally.
Noting that Nigerian Content achievement in engineering services had hit 80%, the Minister insisted that performance in offshore aspects of the industry was still substantially low and charged international and local operating oil companies to collaborate with the NCDMB to achieve the new target.
Kachikwu described Nigerian Content as the future of the industry. According to him, “it doesn’t matter how much money we make, how much gas we produce or alternative fossils we produce; if we do not ensure that a lot of that is captured locally in terms of benefits, we have no stake.”