The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, has disclosed that over 90 per cent of equipment used in the African oil and gas industry is imported.
Wabote disclosed this at the third edition of the African Local Content Roundtable held in Abuja between October 25 and 26, 2023.
Speaking on the theme ‘Fostering Local Content In Africa for Africans’, Wabote said local components manufacturing is the major challenge bedevilling the African oil and gas industry.
As a solution, he called for robust engagements on quality service and equipment manufacturing, cross-border partnerships, intensive out-of-the-box thinking and improvement of funding sources or leveraging additional funding sources to overcome the challenges facing African oil and gas-producing countries.
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