Nigeria local content penetration hits 54% in 2023
The Nigeria Content Penetration for the year 2023 has hit 54% in the year 2023.
The 54% local content penetration represents a higher growth from the 47% target set by the NOGICD act 2010.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Kesiye Wabote made this known at the 12th Practical Nigerian Content holding in Yenagoa, Bayelsa State.
According to the latest figure, the top performers that contributed to the 54% include the Shipping, Surveying services, Inspection/Testing and Certification.
The bottom 3 performers contributing to local content penetration in 2023 include modification & maintenance, health, safety & environment and materials & procurement.
Wabote however, raised an alarm that the local content penetration for the year 2023 is stagnant remaining the same as last year although with a different target last year of 42%.
He noted that this is a warning and a reflection for industry stakeholders regarding the growth of local content in the oil and gas industry.
Engr.Wabote also explained that the local content growth is directly proportional
to its being prioritized as a National Agenda requires leadership support as all level for it to thrive otherwise it takes the back seat.
