Nigeria's Local Content Policy Drives Indigenous Oil, Gas Production

Nigeria's local content policy has led to indigenous companies accounting for over 60% of the country's oil and gas production, reaching approximately 1.8 million barrels of oil equivalent daily.

The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, made this statement during a meeting with a delegation from the Republic of Congo led by its Minister of Hydrocarbons, Mr Steve Onanga.

Lokpobiri attributed the success to the divestment of some assets by International Oil Companies (IOCs) to indigenous operators, which has strengthened Nigerian companies' technical and operational capacity.