Business
Stakeholders Hail FG’s Local Content Policy
The local content policy of the federal government in the oil and gas sector of the Nigerian economy has begun to create the desired impact.
Managing Director of GIC Oil and Gas Services Limited, Mr Godwin Ebolo, made the disclosure in an interview with newsmen at the Port Harcourt International Airport, Omagwa.
Mr Ebolo explained that the Minister of Petroleum Resources had done a lot to engineer local oil and gas companies to build capacity to take their place in the industry.
The Managing Director said many local firms are now play major roles in the up stream and down stream sectors of the oil industry following the policy direction of the present administration.
He noted that the relationship between the local oil companies and their foreign counterparts had been increased as 35 to 40 per cent are now taken over by indigenous firms, stressing that local participation in the sector had improved tremendously.
Mr Ebolo explained further that most of the marginal fields are now controlled by local companies, emphasizing that in a short while they will take up to 80 per cent of the industry activities.
“Those of us involved in business especially in the oil and gas sector know that there is increased participation of local firms as a result of the laws being executed by the minister of petroleum,” Ebolo stated.
The Managing Director said the policy had helped to create employment for the teeming unemployed youths of the country, adding that the multiplier effect on the economy would be rewarding.
He therefore, solicited the support and cooperation of all stakeholders towards enhancing local capacity to deliver proactive strategies to sustain the new interest.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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