• Sunday, June 16, 2024
businessday logo

BusinessDay

Nigeria, Senegal to sign deal on local content

Nigeria must develop capability to produce, utilise fossil fuel – Wabote

The Nigerian Content Development and Monitoring Board (NCDMB) and the authorities of the Senegalese Petroleum Industry agreed on Tuesday to sign a Memorandum of Understanding (MoU) to guide Nigeria’s support for the development of local content in Senegal.

The NCDMB said in a statement that the agreement was reached during a meeting in Lagos between Simbi Wabote, its executive secretary, and key officials of the Senegalese Petroleum Industry.

Speaking after the meeting, Wabote said the MoU would provide the pathway for the details of the collaboration, stressing the need for cooperation amongst African countries for the sustainable development of the oil and gas industry in the continent.

He added that Nigeria had acquired a lot of experience in local content development and was well-positioned to support other African nations that had discovered hydrocarbon resources recently.

Read also: Taking Nigeria’s sugar industry to next level

The Senegalese team was led by Alpha Sy, technical secretary of the National Committee for Local Content in Senegal, according to the statement.

According to him, Senegal is a new entrant to the oil industry and is keen to build local capacities and domesticate key operations in the sector in-country.

He added that they decided to learn best practices in local content from Nigeria to make the implementation in their jurisdiction a reality.

In his remarks, Ernest Nwapa, pioneer executive secretary of the NCDMB, described the planned MoU between Nigeria and Senegal as evidence that key initiatives of Nigerian Content development had been consolidated over the years and had become a model for African countries.

He underscored the need for the Senegalese Government to take their local content policy seriously, design a plan for implementation and pay attention to capacity building of their locals.