GRASSROOT NIGERIA CONTENT DEVELOPMENT AWARENESS SUMMIT/EXHIBITION KICKS OFF NOV 26THAND 27TH IN PH
All is now set for the eagerly awaited two day 'Grassroot Nigeria Content Development Awareness Summit and Exhibition' slated for November 26th and 27th 2013 at the Atlantic hall of Hotel presidential, Port Harcourt.
The event driven by Port Harcourt Chamber of Commerce, Industry, Mines and Agriculture (PHCCIMA), in collaboration with, TOTAL, Shell, AGIP, CNS Marine Nigeria Limited, Forum of South South Chamber of Commerce, Industry Mines & Agriculture (FOSSCCIMA), and Price Water House Coopers International (PWC), is geared towards increasing awareness and impacting knowledge of the NCD act to grassroot business people who ordinarily cannot meet up with the soaring cost of the high profile Nigeria Content Development conferences organized in the past.
According to the President of Port Harcourt Chamber of Commerce, Engr. Emeka Unachukwu the summit will provide a better understanding of the act, increase participation and consequently improve the average performance in the implementation of the NCD act.
Observers have expressed disappointment over the continued flaws in implementation of the act in the country, adding that after 50 years since the exploitation of hydrocarbon started in Nigeria, the percentage of local content in the oil & gas industry is still pegged at only 5-15%. They also analyzed the average amount spent annually in the petroleum industry, which they say averages about US $8Billion lamenting that only about 5% is retained in Nigeria.
Signed into Law on April 22, 2010 by President Goodluck Ebele Jonathan, the Nigerian Oil and Gas Industry Content Development Act is designed not only to increase indigenous participation in the Nigerian oil and gas industry but also act as a spring board to encourage technology transfer as well as drive government's socio-economic development agenda.
The gains of this law could be summarized as follows:
1. Economic growth
2. More employment of locals
3. Value creation in the country
4. Local Participation/ Investment
5. Induced expenditure in the local economy
6. Enhanced human capacity
7. Technology transfer
Three years after passage, a comprehensive reappraisal of impact show very low success rate the legislation had increased the Nigerian content in the area of manufacturing of equipment used in the industry to about 7%. But the average performance in the implementation of the Act is about 30%.
According to the Director of Local Content PHCCIMA, Larry Azubuike the upcoming Free Grassroot Nigeria Content Development Awareness Summit/Exhibition 2013 is expected to complement the effort of government in enlightening the public and major indigenous players in the oil and gas industry about the Nigerian Content Development Act and unlock vistas of opportunities in the sector.
Theme for this year's event is: “Leveraging on the Nigerian Content Development Act For Industrial Revolution” and is expected to be an annual event. It will feature highly rated resource persons as summit speakers like, secretary of the NCD, Mr. Ernest Nwapa, PHCCIMA president, Engr. Emeka Unachukwu among others. Also expected to speak are, Shell Petroleum Nigeria Limited NCD General Manager, Igo Weli, and Deputy Managing Director of Total E&P, Nicolas Brunet among others.