Africa Local Content Fund to catalyze Research Development and drive Local Content Initiative – Nigerian Content Development and Monitoring Board (NCDMB) Exc Sec., Wabote

Africa Local Content Fund to catalyze Research Development and drive Local Content Initiative – Nigerian Content Development and Monitoring Board (NCDMB) Exc Sec., Wabote

Poised to take full advantage of emerging opportunities in local content administration, key stakeholders and policy leaders in Africa's Oil and Gas, and other related sectors, yesterday met in Yenagoa, Bayelsa State, and have unanimously advocated for a new local content strategy for Africa with a focus on adequate regulatory framework, funding, human capacity development and strategic Research and Development (R&D) with effective gaps analysis to positively drive the local content narrative as an imperative for domestication and sustainable growth of Africa's hydrocarbon resources. The stakeholders who gathered at the maiden edition of the African Local Content Roundtable in Yenagoa, Bayelsa State on Thursday, June 3, 2021, jointly agreed that funding is critical to driving local content, especially with the negative impact of the COVID-19 pandemic which has had very negative consequences on the economy of most Africa countries. Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) Engr. Simbi Kesiye Wabote, FNSE, while setting the context at the Pan-African engagement, harped on the need for a strong regulatory framework as part of the efforts by the Nigerian government to make local content a core part of the national energy policy framework. He said funding and incentives are