Thread by @OfficialNCDMB

The HMSPR (@FMPRng), Chief @HETimipreSylva, in his keynote address at the 1st African Local Content Roundtable said “I am delighted that this maiden edition is holding in Bayelsa State, Nigeria which is host to the earliest recorded commercial crude oil discovery and production”.

I commend @OfficialNCDMB for initiating this Roundtable. By this effort, you have set the pace as the premier Local Content regulator in Africa and a worthy example to sister nations that seek guidance to institutionalize Local Content practices in their jurisdictions. - HMSPR

The objective of this pan-African Roundtable is to institutionalize peer review mechanism among Oil-producing countries on local content as a key development imperative for domestication and sustainable growth of Africa’s hydrocarbon resources. - Chief @HETimipreSylva, HMSPR

Any country that aspires to achieve rapid and sustainable economic growth must put in place an economic model that enables its human capital to harness its natural resources to create wealth and economic prosperity. - Chief @HETimipreSylva, HMSPR

Through implementation of local content we have achieved significant growth in-country value addition from less than 5% in 2010 to 35% in 2021 and we have set an ambitious target to achieve 70% local content in the oil and gas sector by 2027. - Chief @HETimipreSylva, HMSPR

Our success story in the oil and gas industry has led to bold step to extend local content to other sectors of the Nigerian economy. - Chief @HETimipreSylva, HMSPR

As a caring African country, we have also considered it necessary to amplify the benefits of local content to our fellow African countries and that is the essence of the African Local Content Roundtable. - Chief @HETimipreSylva, HMSPR

We must use the opportunity of this RoundTable to initiate conversations around Local Content, share success stories, challenges and come up with policies that would deepen local participation and domiciliation in our respective countries. - Chief @HETimipreSylva, HMSPR

It is imperative that African oil-producing countries and their companies cooperate closely in developing and sharing capacities and capabilities to optimize the hydrocarbon deposits and achieve economic growth and development. - Chief @HETimipreSylva, HMSPR

We must take firm decisions and develop policies and projects that would position our industry competitively and sustain our economy under the emerging energy transition. - Chief @HETimipreSylva, HMSPR

The Federal Government of Nigeria (@NigeriaGov) took firm steps in this regard very recently, funding two strategic energy projects in Nigeria.  - Chief @HETimipreSylva, HMSPR

A 10,000 tons per day methanol plant and 500 million standard cubic feet per day gas processing plant in Brass, Bayelsa State and the Ammonia and Fertilizer plant in Akwa Ibom State. - Chief @HETimipreSylva, HMSPR

I look forward to an actionable outcomes from this Roundtable and I earnestly hope it would contribute towards increased regional collaboration and development of Africa’s hydrocarbon industry. - Chief @HETimipreSylva, HMSPR