The Chief Executive of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed has urged the Federal Government to expand its local content policy to the emerging energy transition.
Speaking at the 13th Practical Nigerian Content Forum organised by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa state, Ahmed listed the areas to include renewable energy, environmental sustainability, artificial intelligence, big data, and efficient exploitation of hydrocarbon resources.
He added: “The world is seeking advancements and new options for energy provision to harness emerging technologies, optimise competitive advantages and reduce dependence on other sovereign economies.”
He insisted that Nigeria must ensure that it remains competitive and an attractive investment destination that promotes inclusive development of its petroleum sector.
He stated that the NMDPRA would provide all required support to the NCDMB, the Ministry of Petroleum Resources and other stakeholders, “so that together, we will position Nigeria on the path of sustainability and growth of our energy sector.”
The NMDPRA chief added that the Authority will continue to provide a conducive regulatory environment for the growth of the midstream and downstream of the petroleum industry.
He said: “Our efforts are already enabling businesses and attracting investments in critical infrastructure and other sub-sectors of the industry.
Engr Ahmed maintained that the NMDPRA remain committed to continuous stakeholder engagements and collaborations to ensure that all regulatory requirements support ease of doing business and the creation of robust markets.
Describing the theme of the event, ‘Defining the next frontier for Nigerian content implementation’ as apt, Engr Ahmed said the forum has been consistent and has been contributing to the steady progress of local content development in Nigeria.
He stressed that Nigeria has made considerable progress in its journey towards the attainment of optimal local content development through the enactment of requisite legislation, provision of structured funding, active participation of all stakeholders, clear, and visionary leadership by successive governments.
His words: “Over the years, Nigeria has metamorphosed from a country that is dependent on importation of almost all professional and specialist services, to a nation that exports skills and expertise globally. Currently, as provided for by our local content laws, the country has attained most of its targets on the domestic provision of works and services, thereby creating appreciable wealth, prosperity, and employment for the populace and local investors. This has contributed towards the attainment of social harmony within the host communities of our important economic industries, which in turn is attracting more investments in the sectors.”
He submitted that local content provisions have supported the creation of value from our rich oil and gas sector.
The NMDPRA boss said successes recorded so far are the product of diligent actions by relevant agencies and policymakers.
He lauded the NCDMB’s Executive Secretary, Engr. Felix Ogbe for providing credible leadership.
He argued that the journey towards national development is a continuous endeavour, saying, “As the economy, technology and global markets evolve, so does the need for transformations and innovations in local content activities. Our collective efforts are aimed at ensuring that Nigeria and Nigerians remain competitive in the rapidly evolving global economy, and all efforts should not be spared to ensure that we continue to unlock and improve the objectives of the Nigerian Content Development.”
