Local content policies to drive FG’s oil reforms – Kachikwu

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Ibe Kachikwu, minister of state for petroleum resources has assured that the strategic implementation of local content policies will be the fulcrum of ongoing reforms by the federal government in the oil and gas sector, BusinessDay reports.

In his keynote address at the Sustainability in the Extractive Industry (SITEI) conference on Wednesday, Kachikwu said strong government demand for local content investment through creation of infrastructural facilities and insisting work be done in Nigeria should be of paramount importance.

He said once a local content policy is strategically implemented, there will be more fabrication yards in the country which will boost Nigeria’s  industrial sector and reduce the cost of production, and thus maximising government revenue.