Senate Probes Local Content Implementation in Oil Industry
The Senate Joint Committee on Petroleum Resources (Upstream) and Gas Resources, has commenced investigation into the implementation of local content in the oil and gas industry in the country.
Opening the session of an investigative hearing on the issue on Tuesday in Abuja, President of the Senate, Bukola Saraki, said the National Assembly was concerned with the level of implementation of local content in Nigeria.
Saraki, who was represented by the Leader of the Senate, Sen. Ahmed Lawan, said that most multi-national companies had yet to substantially comply with the provisions of the law.
He said that under the Nigeria Oil and Gas Industry Content Development Act, investors were mandated to consider Nigerian companies as an important element in their project development and management.