Business
Reps Make Case For Local Content Capacity
The committee on Local
Content in Nigeria’s House of Representatives has urged International Oil Companies (IOCs) to patronise marine support base and shipyard of West African Ventures (WAV) in Warri, Delta State.
The lawmakers made the call during a visit to the firm recently as part of their oversight function to inspect and verify the companies local content capacity.
The chairman of the House committee on Local Content, Hon Emmanuel Okon, expressed displeasure over the under utilization of the company’s facilities by IOCs, citing the number boats awaiting purchase by oil and gas firms, lying in their premises. He advocated patronage by oil firms to encourage sustainable investment needed to build capacity and enhance indigenous companies by the operating companies to compete internationally.
According to him, “I am impressed by what I saw and I believe the community is impressed too with your local content deliverables. Even though the facilities are not utilized as they should be, we will try our very best to get people, marketers who can market this company and give the products the level of patronage that they deserve”.
Okon said he was satisfied with the quality of passenger and hug boats, and investment in the dry-dock, assuring that the House would ensure sustainable patronage of the multibillion naira yard of WAV and facilities of other indigenous companies by the companies in the country.
He further said, “as a responsive legislature, we will make sure that we continue to legislate and come out with laws and legislations that will force other companies and other users of light boat like this to consider getting it from companies like WAV, which have huge investments in the country to create jobs”, adding that they will ensure the crises in the sector does not impact negatively on business.
The committee stated that the local content law, since its enactment in 2010, has encouraged steady investments in various regions of Nigeria, adding that the law has promoted immeasurable investments and achievements in terms of job creation and skill acquisition in the oil and sector, noting that local companies have done well as a result of the law, and added that more investments are expected when the economy takes a stable position.
The Executive Director, WAV, Alhaji Ibrahim Sambo, affirmed that the crises in the sector had the firm laying of some staff in the last quarter to enable them cope with manage costs in view of dwindling revenue.
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