The Nigerian National Petroleum Corporation (NNPC) has expressed concern that the persistent volatility in the price of crude oil is putting pressure on the local content initiative of the Federal government.
Speaking in Bayelsa
State, at the ongoing 9th Practical Nigerian Content, Group Managing Director
of the NNPC, Mallam Mele Kyari, said with the reality, it had become expedient for
the Federal government and stakeholders to raise the bar of the Nigerian
content policy.
He said: “The Nigerian Content policy has
indeed been a catalyst for the nation’s industrialisation. There is, however,
no doubt that the resilience of local content policy is being tested under the
present volatility in oil prices experienced in the global oil and gas market.
Now is therefore, the time to raise the bar of the Nigerian content policy.”