Thread by @OfficialNCDMB

Executive Secretary #NCDMB Engr Simbi Wabote delivering his speech at the 1st African Local Content Roundtable Conference happening at the #NCDMB Nigerian Content Tower, Yenagoa.

“It is a great honour and privilege for me to welcome you to the maiden edition of the African Local Content Roundtable holding here in Yenagoa, the capital city of Bayelsa State Nigeria”. - Engr. @wabote_simbi FNSE

#NCDMB

This roundtable had been on the cards for a long time and I am happy that it is finally holding to provide a platform for oil and gas producing countries in Africa to discuss and promote the implementation and deepening of Local Content. - Engr. @wabote_simbi FNSE

We have had visitations from many African countries coming to under-study the reasons for the success of Local Content practice in the Nigerian oil and gas industry. - Engr. @wabote_simbi FNSE

We have decided to change these bi-lateral engagements to a bigger roundtable involving more African countries where we can rub minds and agree key actions to drive the growth of Local Content in Africa. -Engr. @wabote_simbi FNSE

The need for African countries, and indeed countries all over the world, to pay attention to Local Content was made very apparent during the global lock-down at the peak of the COVID-19 pandemic. - Engr. @wabote_simbi FNSE

For any sustainable Local Content practice, there are five (5) key parameters required to be in place namely:
a. Regulatory Framework
b. Gap Analysis
c. Capacity Building
d. Funding & Incentives, and
e. Research and Development.
- Engr. @wabote_simbi FNSE

An enabling regulatory framework backed with the appropriate legislation is very fundamental in Local Content practice. A law, or decree depending on the political arrangement in a country, sets the framework and boundaries for all local content practitioners. - @wabote_simbi

Baseline and periodic gap analyses are essential to determine gaps that needed to be closed in the areas of skills, facilities and infrastructure. - Engr. @wabote_simbi FNSE

The oil and gas industry is very dynamic. Regular reviews and monitoring of local content goals show where capacities have been met and where there is over-capacity to guide deployment of resources and investment decisions. - Engr. @wabote_simbi FNSE

For us in Nigeria, we set aspirational targets as contained in our Local Content law. The NOGICD Act has set minimum targets in 278 services across oil and gas value chain to enhance local capacity development. - Engr. @wabote_simbi FNSE

We have moved Nigerian Content to 35% from less than 5% before the advent of the local content law. Four years ago, we launched our 10-year Strategic Roadmap to move Nigerian Content in the oil and gas Industry to 70% by the year 2027. Engr. @wabote_simbi FNSE

Structured capacity building intervention is essential to spur the development of in-country capacities and capabilities. This is not limited only to local manufacturing and infrastructural development but also Human Capacity Development. - Engr. @wabote_simbi FNSE

Funding and incentives are essential to implement Local Content programs, develop infrastructure, attract new investments, and keep existing businesses afloat where required. - Engr. @wabote_simbi FNSE

Local content thrives where there is robust Research & Development guideline to drive development of home-grown technology. Countries that have witnessed appreciable local content level such as Brazil attributed the growth to the priority attention given to R&D. - @wabote_simbi

For us in Nigeria, we have devoted increased focus on Research and Development in the oil and gas sector, with the launch of our R&D Roadmap anchored on 8 key pillars and 42 initiatives. - Engr. @wabote_simbi FNSE

A sustainable Local Content practice requires that the right regulatory framework is put in place, regular gap analysis and the setting of targets for gap closure. - Engr. @wabote_simbi FNSE

Local Content is not about nationalization; it is about domiciliation and domestication for local value addition. It needs foreigners and Foreign Direct Investment to thrive. - Engr. @wabote_simbi FNSE