Rivers: NSE holds two-day conference on Nigerian Content Act

…Says over $8bn business are up for grabs in Oil & Gas industry

Barth Ndubuwah, Port Harcourt

The Nigerian Society of Engineers (NSE) has opened a 2-day conference on Nigerian Content Act, in Port Harcourt, stressing that over $8billion business opportunities still exists in the Oil & Gas industry in Nigeria and are opened for grabs by the local companies in the Country.

This was stated Wednesday by the Chairman/CEO of Oilserv Nigerian Limited, Engr Emeka Okwuosa while delivering his keynote address at the event.

Represented by Engr Richie Nwobike, he stressed that over $8billion business opportunities exist in the Oil & Gas industry in Nigeria, courtesy of the Nigerian Content Act.

This, he said, are up for grabs, but dependent on the ability of the Nigerian companies to put their heads together and dig deep into the existing business opportunities.

The Keynote Speaker said his company, Oilserv is a testimony to the fact that the local companies in the Oil & Gas industry can make headway, taking advantage of the Nigerian Content Act.

He said prior to the passage of the Act, his company like every other firm in the Oil & Gas industry was struggling to survive, but noted that today the story is different.

According to Engr Okwuosa, Oilserv has successfully executed some mega projects in the Oil & Gas industry, hitherto preserved for the OICs, pointing out that the sky is the limit for other Nigerian companies that are ready to work hard.

He expressed happiness that over 95 per cent of the companies operating in the Oil & Gas industry today are indigenous companies and they are doing very well.

He said over 50,000 jobs have been generated by the local companies, thereby creating wealth for the economic growth of the country.

He however lamented that insecurity,  funding, community relations and inflation rate in the Country have actually affected the performance of the local companies in the subsector.

Okwuosa said with good coordination and cooperation among industry players, such challenges can be surmounted.

Also speaking, the Chairman of the occasion and President of NSE, Engr Tasiu Saad Gidari-Wudil represented by his Vice, Engr (Mrs) Rose Madaki said that the Nigerian Content Act provides key elements for the Nigerian Oil & Gas industry to engender development in the subsector and Country at large.

He congratulated the Port Harcourt Branch of the NSE for putting the conference together, noting that the programme was meant to evaluate the Nigerian Content Act as regards  the benefits of the indigenous companies.

X-raying the issues surrounding the Nigerian Content Act, were a 5-man panelists, comprising Dr Uche Maraizu, MD Palm Nectar Breweries Limited, Engr (Prof) Obi Onyekonwu, MD Laser Engineering and Engr Richie Nwobike.

Others were Engr Barry Esimone, FNSE and Engr Chibuzor Chibuoke who critically observed the ‘highs’ and ‘lows’ of the Nigerian Content Act, urging the Nigerian Content Monitoring Development Board (NCMDB) to up their game by protecting Nigerian companies in the Oil & Gas subsector to enable them have fair share of the existing opportunities in the industry.

In her goodwill message, Engr (Hon) Victoria Nyeche said  people  doubting the values of indigenous companies are afraid that their standards most times fail.

Engr Nyeche, former lawmaker at the Rivers State House of Assembly said she looks forward to a time when Nigerian values will be of uttermost standard.

She posited that the conference should not end as a talkshow, but should instead be used to harness the accruing benefits of the Nigerian Content Act to local companies in the country.

Earlier in his welcome address, the Port Harcourt Branch Chairman of the Nigerian Society of Engineers, Engr (Dr) Hachimenum Amadi had welcomed  the participants to the two-day conference, expressing confidence that the resource persons will do justice to their assigned subject matters.

He charged the participants to make maximum use of the opportunity offered by the event.

Highlight of the event was the declaration of the exhibition mounted by Nigerian companies opened by the Special Guest of Honour and CEO GGI International Nig. Limited, Engr (Sir) Innocent Akuvue.