By Sebastine Obasi

Sustenance of local content has been described as to key to job creation and development in Nigeria’s oil industry.

The Managing Director of TotalEnergies, Mr. Michael Sangster stated this at the Nigeria International Petroleum Summit, NIPS, being held in Abuja. Giving an insight into the local content, Sangster stated the policy had encouraged the International Oil Companies, IOC to make more impact in country.

He said, “The industry has been proactive with the local content act; the act aided the establishment of indigenous companies and creation of jobs. “The Egina project is a good product of local content and we are very proud of it because 70 per cent of the fabrication are done in country and they are quality and the facility is working well.” The Total Chief Executive urged the government to invest a good percentage of its revenue to support local content to boost the economy and drive regional development.

According to him, “We strongly believe that sustainability of the local content will help keep young people busy.”

Also speaking, The Chairman, Shell Companies in Nigeria, Mr Osagie Okunbor, said that Nigeria is more of a gas country. “Yes we want to grow our reserve but the challenge is producing the reserve for the benefit of the country,” he said. He harped on the need for enabling environment and infrastructure development, sanctity of contracts and collaboration among stakeholders. Okunbor commended the commitment of the National Assembly on the passage of the Petroleum Industry Bill (PIB). According to him, this would go a long way in bringing about the needed investment and development in the sector. He called on all stakeholders to support the move to give life to the Nigerian economy through gas value chain.

Mr Monday Ovuede, the Director, Joint Venture Operations, Mid Africa Strategic Business Unit, Chevron Middle East, Africa and South American Region espoused that with the right guidelines and policies, the sector would achieve the desired growth. He was also of the opinion that the expansion of the gas pipeline was a good step in the right direction as provision of power is critical for growth and development. He said the passage of the PIB would also drive investments in the Nigerian downstream oil and gas sector. He further called for more efficiency in production by adopting digital opportunities and modern technology.

For Abidodun Afolabi, the Executive Director Corporate Services, TotalEnergies, the company would continue to collaborate with the Nigerian government. He explained that TotalEnergies is transiting to new opportunities in the hydrocarbon industry. “As you all have seen, we are a new integrated energy company, you can see the new logo and name. This new year development exemplifies the dynamics we are adopting. “TotalEnergies want to see industry maximise potential and deliver optimal dividends to Nigerians and Africa, as a whole. “We are committed to make Nigeria an attractive destination for business,” he said.

Vanguard News Nigeria

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