Key stakeholders and policy makers in Africa’s oil and gas and other related sectors have stressed the need for the continent to look within for solutions to its problems in the face of global economic challenges.
The stakeholders who gathered at the third edition of the African Local Content Roundtable held in Abuja between October 25 and 26 2023 with the theme “Fostering Local Content In Africa for Africans,” agreed that the concept of local content is not merely a policy, but a catalyst for transformation.
According to a statement released on Saturday, the Executive Secretary of the Nigerian Content Development and Monitoring Board, Simbi Wabote, noted that one of the greatest challenges bedevilling the African Oil and Gas industry is local manufacturing of components.
“90 per cent, if not more, of the equipment that we use are imported because we’ve not focused on how to manufacture some of the components in-country,” he said.
While noting…