Business
Oil Firm Lauds Local Content Laws Implementation
A Port Harcourt based
oil services company has lauded the implementation of the Local Content Laws by the federal government.
Speaking to The Tide in Port Harcourt last Friday, the Managing Director of Strides Energy and Maritime Limited, Moritz Abazie said the Local Content Law has recorded great success in creating home grown skills in the country’s oil and gas sector of the economy.
Abazie said that the Nigerian Content Act had opened the floor for indigenous companies to prove that they were capable of playing competively in the international oil and gas scene.
The company boss noted that Nigerian companies had the capacity to carry out contracts efficiently like other foreign companies dominating the oil and gas sector of the Nigerian’s economy.
He said before the implementation of the Local Content Law, Nigerian companies who had the competency in the oil and gas business were marginalised, but the situation was gradually changing now.
He said the level of the implementation of the Local Content Law had been quite impressive, stressing that the compliance level by the International Oil Companies (IOC) has been satisfactory to a reasonable extent.
Abazie explained that the Nigerian Content Act had been quite effective, useful and well cut out because it was long due, adding that Local Content Law had come to stay and the IOCs were effectively obeying and implementing such laws.
The oil firm Chief Executive Officer further emphasised that before now Nigerian companies were not given a chance in dredging services, something Nigerian companies could do, but explained that the situation had changed now with Nigerian companies dominating the dredging services through the implementation of the Local Content Act.
Philip Okparaji