Senator Albert Wants Local Content Policy Extended To Other Sectors
Chairman, Senate Committee on Petroleum Resources Upstream, Senator Bassey Albert Akpan, has called for the extension of the scope of the Nigerian content policy beyond oil and gas sectors of the economy.
Senator Albert, popularly known as OBA, who spoke on the floor of the Senate during the second reading of the Bill for an Act to amend the Nigeria oil and gas Industry Content Development Act 2010 and for other matters connected thereto, 2020, on Tuesday, May 19, 2020, said this will enable Nigerians to take charge of commanding heights of the economy.
The Senator, who represents Akwa Ibom North East Senatorial District observed that the country stands to benefit more given a holistic review of existing laws in the sector in order to empowers Nigerians to have greater participation in the industry.
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“We may not be where we are supposed to be but we are not where we used to be. We must extend this bill beyond the oil and gas sector and do same for the other sectors of the economy,” the high ranking Senator said.
The bill is sponsored by Senator Folarin Teslim, representing Oyo Central, Oyo State.
The bill seeks to amend 38 sections in the extant Act while introducing six new provisions.
These amendments are meant to bring the provisions of the law at par with current global best practices in the oil and gas industry.
