Nigeria: Will Local Content Really Achieve Its Purpose?

8 June 2010
opinion

Lagos — Bunmi Ibraheem who attended last week's Maritime Seminar for Judges in Abuja examines compliance issues for International Companies in light of the Cabotage Act 2003 and the recently passed Local Content Act.

In the Nigerian oil and gas industry tough times are about to get even tougher for international companies (companies registered in Nigeria in which foreign individuals or companies registered outside Nigeria own the majority shares.) These tough times are not those occasioned by current global economic downturn. No, it is caused by two pieces of legislation passed by the National Assembly in 2003 and 2010, namely the Coastal and Inland Shipping (Cabotage) Act 2003 and the Nigerian Oil and Gas Industry Content Development Act 2010.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.