Local content is a worldwide phenomenon that tends to build equity for local citizens by giving
them adequate access to derive benefit from natural resources and endowments though deliberate
policy initiatives, including legislation.
Therefore, the same issue of local content is being experienced in other oil producing countries some of which have done better than Nigeria in utilizing their oil wealth to build secondary and tertiary businesses while the country is still largely dependent on oil. Nubian Engineering Limited’s
Local Content policy shall meet and
surpass Federal Government target of 45% and 70% local content by year end 2006 and 2007 respectively. Government in the last few years has taken the matter quite seriously by setting up committees to examine the issues and come up with recommendations which would include the enactment of a Nigerian content law. Though the issue of local content is applicable to all aspects of
oil and gas industry operation, it is however more palpable in the upstream sector where a substantial part of the estimated $8 billion spent annually is spent outside the country for the procurement of goods and services.
To arrest the situation, government is putting in place the machinery to encourage local establishment of infrastructure and manufacturing facilities. This initiative is meant to provide an enabling environment for indigenous suppliers and service providers as well as their foreign counterparts to facilitate the establishment of structures that would provide employment opportunities and industrial spin-offs in the local economy.
In order to achieve its local content policy Nubian affirms the following: that she will recruit the best Nigerian for a specific job, promote Nigerians into top management positions and purchase our products locally except where those are not available.