The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote, has disclosed that over 90 per cent of equipment used in the African oil and gas industry is imported.
Wabote disclosed this at the third edition of the African Local Content Roundtable held in Abuja between October 25 and 26, 2023. Speaking on the theme 'Fostering Local Content In Africa for Africans', Wabote said local components manufacturing is the major challenge bedevilling the African oil and gas industry.
On his part, Minister of State for Petroleum Resources , Senator Heineken Lokpobiri, expressed that the theme of this year's Roundtable discussion was appropriate. 'The topic is very appropriate for Africa to evolve from not just supplying raw materials, but developing capacity and capability to explore, produce and process its hydrocarbon resources into petroleum derivatives for its use.
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