{"id":62014,"date":"2018-05-03T07:00:56","date_gmt":"2018-05-03T06:00:56","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=62014"},"modified":"2018-05-03T07:00:56","modified_gmt":"2018-05-03T06:00:56","slug":"jonathan-urges-african-leaders-to-embrace-local-content-to-deepen-economic-growth","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/jonathan-urges-african-leaders-to-embrace-local-content-to-deepen-economic-growth\/","title":{"rendered":"Jonathan urges African leaders to embrace local content to deepen economic growth"},"content":{"rendered":"<div dir=\"ltr\">Former President Jonathan has advised African nations, especially<\/div>\n<div dir=\"ltr\">those producing oil and gas, to establish a local content policy as a<\/div>\n<div dir=\"ltr\">means of fast-tracking the development of local technology,<\/div>\n<div dir=\"ltr\">industrialisation and deepening economic growth on the continent.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">The ex-President gave this advice on Wednesday in Houston at the 2018<\/div>\n<div dir=\"ltr\">Local Content Conference, taking place on the side-lines of this<\/div>\n<div dir=\"ltr\">year\u2019s Offshore Technology Conference (OTC) in Texas the United<\/div>\n<div dir=\"ltr\">States.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Jonathan noted that the impact of the local content Act which he<\/div>\n<div dir=\"ltr\">signed into law as a President in the year 2010 has brought about<\/div>\n<div dir=\"ltr\">significant progress in local capacity utilization in the Nigerian oil<\/div>\n<div dir=\"ltr\">and gas industry.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Encouraging other African nations to embrace similar<\/div>\n<div dir=\"ltr\">initiative, he said: \u201cI strongly recommend the local content policy<\/div>\n<div dir=\"ltr\">for all oil and gas producing African nations because of its<\/div>\n<div dir=\"ltr\">in-country positive impact on the development of local technology,<\/div>\n<div dir=\"ltr\">employment generation and capacity to promote value addition,<\/div>\n<div dir=\"ltr\">industrialisation and overall expansion of the economy.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">A statement issued by his media adviser Mr. Ikechukwu Eze said that<\/div>\n<div dir=\"ltr\">the former President further described local content policy as \u201cthe<\/div>\n<div dir=\"ltr\">missing link in Africa\u2019s search for viable processes and procedures<\/div>\n<div dir=\"ltr\">that would strengthen the continent\u2019s economy across strategic value<\/div>\n<div dir=\"ltr\">chains.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Jonathan also urged African leaders to prioritise education and<\/div>\n<div dir=\"ltr\">manpower development in order to produce the required workforce that<\/div>\n<div dir=\"ltr\">would galvanise industrialisation.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">According to him, \u201cAfrican leaders must pay special attention to manpower<\/div>\n<div dir=\"ltr\">development through quality education, training and research in areas of<\/div>\n<div dir=\"ltr\">need to give local content through quality Industrialization, a great<\/div>\n<div dir=\"ltr\">push. For Africa to truly develop in a sustainable manner, leaders must<\/div>\n<div dir=\"ltr\">make conscious efforts to ensure that the education curricula of various<\/div>\n<div dir=\"ltr\">countries are radically redesigned to produce skills relevant to the<\/div>\n<div dir=\"ltr\">economic needs of the 21st century.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He said also that \u201cAfrica needs to build competences and cultivate<\/div>\n<div dir=\"ltr\">knowledgeable manpower that would revolutionize the continent\u2019s<\/div>\n<div dir=\"ltr\">technological advancement. That way, we can control the processes of<\/div>\n<div dir=\"ltr\">exploration and exploitation of resources across the entire value<\/div>\n<div dir=\"ltr\">chain of the petroleum industry and other sectors of the economy.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">Speaking further on the gains of the local content policy to Nigeria,<\/div>\n<div dir=\"ltr\">the former President stated that its successful implementation has<\/div>\n<div dir=\"ltr\">improved local capacity building for upstream and downstream<\/div>\n<div dir=\"ltr\">operations and greatly boosted the push for industrialization in the<\/div>\n<div dir=\"ltr\">country.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">He said further: \u201cI believe that Nigeria is utilising the increased<\/div>\n<div dir=\"ltr\">application of the local content Act in its oil and gas industry to<\/div>\n<div dir=\"ltr\">stimulate investments that will positively transform other sectors of<\/div>\n<div dir=\"ltr\">its economy, and create more jobs for the unemployed. I am aware that<\/div>\n<div dir=\"ltr\">the mileage already covered and successes recorded in the<\/div>\n<div dir=\"ltr\">implementation of the Act in less than a decade have attracted local<\/div>\n<div dir=\"ltr\">and international commendations. It has also excited the interest of<\/div>\n<div dir=\"ltr\">some African countries that are already soliciting for the Nigerian<\/div>\n<div dir=\"ltr\">content policy as a guide.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cBy its nature, the local content policy was designed to stimulate<\/div>\n<div dir=\"ltr\">local production and industrialization by leveraging linkages in the<\/div>\n<div dir=\"ltr\">petroleum industry and other sectors of the economy to boost<\/div>\n<div dir=\"ltr\">employment and production.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">I will say that the local content Act has galvanised and transformed the<\/div>\n<div dir=\"ltr\">entire oil and gas industry in Nigeria into a very vibrant sector with<\/div>\n<div dir=\"ltr\">enhanced capacities in technological development, interventions and<\/div>\n<div dir=\"ltr\">innovations. I believe that the local skills, capacities and creativity<\/div>\n<div dir=\"ltr\">developed for the oil industry can easily be adapted in other sectors of<\/div>\n<div dir=\"ltr\">the economy such as ICT, agriculture, transportation, power, health and<\/div>\n<div dir=\"ltr\">overall manufacturing.<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\">\u201cWe have got to the point where we can safely say that the oil and gas<\/div>\n<div dir=\"ltr\">sector in Nigeria decisively forms the pivot for the acceleration of<\/div>\n<div dir=\"ltr\">the country\u2019s industrial growth. I believe that with consistency and<\/div>\n<div dir=\"ltr\">unwavering commitment in the implementation of the law, the industry<\/div>\n<div dir=\"ltr\">will continue to grow and more values can be achieved in the economy.\u201d<\/div>\n<div dir=\"ltr\"><\/div>\n<div dir=\"ltr\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Former President Jonathan has advised African nations, especially those producing oil and gas, to establish a local content policy as a means of fast-tracking the development of local technology, industrialisation&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":62015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-62014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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