Nigerian Minister Emphasizes Local Content Development for Economic Growth at Energy Summit

The Minister of State for Petroleum Resources, Ekperikp Ekpo, highlighted the importance of strategic policies to enhance local participation and skills ownership in Nigeria's energy sector during the 9th Nigerian International Energy Summit in Abuja. Ekpo stressed the critical role of natural gas in diversifying Nigeria's economy and transitioning to a lower carbon system to drive industrialization and economic resilience.

He emphasized the need to move beyond mere compliance towards performance-driven local content to build a sustainable industrial powerhouse. Additionally, Patience Oyekunle, the Permanent Secretary of the Ministry of Petroleum Resources, underscored the significance of energy as a catalyst for stability, industrialization, and inclusive growth in Nigeria.

Heineken Lokpobiri, a former Minister of State for Petroleum Resources, lamented the misapplication of the Nigerian Content Act, attributing it to high service costs in the oil and gas sector. Lokpobiri called for efforts to reduce project costs and attract investors to bolster Nigeria's energy sector competitiveness.