NIGERIAN OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT: AN ASSESSMENT OF IMPLEMENTATION CHALLENGES

Abstract

Abstract
Nigeria understandably opted to introduce local content requirements into the oil and gas industry,
purposely to create jobs locally, provide locally oil firms, manufacture local goods for oil and gas sectors
and acquire new skills and technology. However, local content regime in Nigeria is not without some
challenges, obstacles and barriers. This article, therefore, is intended to appraise the legal regime using
content analysis with an objective of unrevealing the implementation challenges and the benefits or success
recorded so far after the coming of the Act. The article posits that local content regime in Nigeria had
developed an unrealistic targets that can hardly be achieved with the current business environment and;
there was an apparent conflicts with the Nigeria's international obligations and World Trade Organization
(WTO) treaties and some bilateral agreements. Hence, the article recommends for the setting of realistic
targets that are intendem with Nigeria's capacity and capabilities. Also, measures of ease of doing business
intendem with Nigeria's international obligations must be put in place with a view to enhancing
participation of Nigerians and their indeginiuos oil and gas company.