FG To Invest $500m On Local Content Dev

The Federal
Government is set to invest $500 million for the development  of Nigerian Local  Content in the oil and gas sector of the economy.
The Minister of Petroleum Resources, Mrs Diezani Allison-Madueke disclosed this at the headquarters of Nigerian Content Development and Monitoring Board (NCDMB) Yenegoa, recently.
She commended the initiatives and achievements of the board within its four years of existence, stressing that the agency is a major contributor to the Transformation Agenda of the president administration.
She said the Federal Government was impressed with the various achievements recorded by the Board, adding that the success of the content Board is incredible within the short period of its existence.
The minister said, that the implementation of the Act has been effective following the adoption of the Nigerian content philosophy by other sectors of the economy.
Allison Madueke explained that the fact that Nigerian content policies are about to be deployed in various parts of the economy and ministries as well want to copy and learn from the Ministry of Petroleum is one of the thing Nigerians are actually proud of adding that it is one of the strength of the oil and gas sector under this administration.
She expressed confidence that Nigerian content implementation will lend itself in a critical way to the growth of the nation’s economy and development of the citizenry interms of knowledge, capacity building and employment generation.