*To expand local content to non-oil sector
Abuja — The Senate Committee on Local Content on Monday, assured that the ninth National Assembly is passionately committed to Nigerian Content and developing local capacities in the oil and gas sector.
The Chairman, Senate Committee on Local Content, Sen. Teslim Folarin, disclosed this at the ongoing 20th Nigeria Oil and Gas Conference in Abuja, with the theme Expanding the Nigerian Content Frontier through Intra-African Trade.
Folarin disclosed that the National Assembly was at the verge of expanding Nigerian Content to non-oil sector through the Nigerian Local Content Development and Enforcement Bill 2020.
He said the Bill, when passed into law would fast track industrialization and promote technological transfer.
“This session of the National Assembly has been very passionate on the issue of Nigerian Content. And we are committed to amending the Nigeria Content Act to ensure Nigeria and Nigerians fully benefit from every aspect of the petroleum sector.
“We are also committed to passing the Nigerian Local Content Development and Enforcement Bill 2020, in order to expand Nigerian Content to other sectors of the economy.
“The Bill when passed into law will take local content beyond the oil and gas sector to all other sectors of the economy.
“It will ensure and enhanced the development of Nigerian capabilities and domesticate industrial capacities in-country.
“The Bill will fast track growth, development and industrialization as well as promote technology and knowledge transfer.”