In order to achieve the target of reducing the cost of oil production in Nigeria on a sustainable basis, the Nigerian National Petroleum Corporation, NNPC says indigenous companies operating in the nation’s oil and gas industry must upscale their capacity for global competitiveness.

The Group Managing Director of NNPC, Mallam Mele Kyari stated this recently at a virtual stakeholders consultative summit organised by the Senate Committee on Local Content. A press release by NNPC Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the NNPC GMD as saying that there was need to amend the Local Content Act to reflect current realities in the industry.

The NNPC boss who was represented by the Group General Manager, Corporate Planning & Strategy, CP&S, Mrs. Eyesan Oritsemeyiwa, argued that there was need to have a legislation to resolve the issues of funding challenges faced by local players, stressing that oil and gas business required high technical skills and competence to compete favourably at the global stage.

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Source: SweetCrudeReports