The Managing Director, Â Â Â Bell Oil and Gas Ltd., Mr Kayode Thomas, has called on the Federal Government to compel operators and major contractors in the Oil and Gas sector to award contracts to local companies.Thomas said on Monday in Lagos that they should be made to give priority to Nigerian companies before awarding contracts to foreign companies.
â€œThis will foster the development of local content and enhance the overall development of the Nigerian economy,â€™â€™ he said. Thomas said that often times, major contractors and operators in the sector awarded contracts to their foreign counterparts at the expense of local companies.He said that some aspects of the oil and gas operations like engineering, procurement of equipment and construction works could be domiciled in Nigeria.
â€œGovernment needs to focus on ensuring that the engineering, procurement and construction aspects are basically contracted to local companies which take their activities seriously. â€œThe Federal Government has done well in the area of local content development in the last 15 years and it has fostered the development of Nigerian companies,â€™â€™ Thomas said.According to him, even some Nigerians resident abroad have been encouraged to return home to join in the development of local content. â€œPeople like us were encouraged to return home after many years overseas just because of the local content initiative,â€™â€™ he said.