Penultimate weekend, the Minister of State for Petroleum
Resources and Group Managing Director of the Nigerian
National Petroleum Corporation, NNPC Dr. Ibe Kachikwu,
announced that Nigeria would increase crude oil
production to meet local demand but not for the
international market.
Kachikwu explained that the oil output would remain unchanged from the January level of 2.2 million barrels a
day, but exports would be reduced to focus on local refining and supply of petroleum products to the Nigerian market, which requires at least 500,000 barrels a day.
The statement was not unrelated to Nigeria’s support of the
efforts of the Organisation of Petroleum Exporting
Countries, OPEC to optimise oil prices by employing
‘production freeze’ tactics to combat the oil glut.
We commend the Minister for displaying leadership by
taking a clear stance at a time when the nation is in dire
need of economic direction. We also commend his
patriotism and his innovative ideas for our oil industry.
Beyond fixing the global glut, however, there is an urgent
need to proffer original, home-grown policies as well as
ensuring that existing ones are strictly adhered to. An
urgent case in point is the Nigerian Oil and Gas Industry
Content Development law (NOGICD), more popularly
known as Nigerian Local Content Law.
The Nigerian local content Law is one of the significant
efforts in localising the management and control of the oil
and gas industry and was widely celebrated at inception.
The Law, which received presidential assent on the 2nd of
April 2010 and created a framework towards indigenous
content also established the Nigerian Content Monitoring
Board which is charged with the responsibility to
coordinate, monitor and implement the local content Law.
The local content Law specifies that Nigerian independent
operators should be accorded “first consideration” in the
award of Oil and Gas-related contracts and that Nigerian
service companies should also be given “exclusive
consideration” for contracts and services. Industry
watchers believe that an ideal and welcome scenario will
be where Nigerian companies are allowed to participate
along side international Oil Majors.
The local content Act, however, seems to have made very
little impact. There is very limited local participation in this
vibrant sector that has the potential to improve the
standard of living and provide gainful employment for
Nigerians. This is unacceptable, particularly as Nigerians
now have the skills needed to perform efficiently in the
sector.
The situation contrasts with what obtains in other oil-
producing countries. The implementation of the local
content Law in Nigeria has been hindered by artificial
barriers, chief of which is endemic corruption and poor
regulation.
Sanitisation of the Nigerian oil industry should constitute
the foundation upon which the lofty development aims of
the present administration are anchored.

www.vanguardngr.com/2016/03/moving-our-oil-industry-forward/

I like this man so much. He is really fit for this post..

NOTE: Am a Yoruba Boy but I won't let Tribal issues stop me from saying the truth.. Thumb up my able MINISTER

We shall get there soon.. GOD IS OUR SUPPORTER

Good idea