Nigeria must strengthen local capacities to achieve economic growth – Lawan Updated for 2021

82,093FansLike
2,966FollowersFollow
2,700SubscribersSubscribe
82,093FansLike
3,122FollowersFollow
2,700SubscribersSubscribe

Updated: March 6, 2021

President of the Senate, Ahmad Lawan, has said for Nigeria to experience exponential growth in the economy, efforts must be made to strengthen the country’s local capacities particularly against the backdrop of realities that are fallouts of the COVID-19 pandemic.

Lawan made this known on Wednesday at the virtual opening of the Nigerian Content Summit jointly organised by the Senate Committee on Local Content and House of Representatives Committees on Content Development and Monitoring.

[read_more id="2" more="Read full article" less="Read less"]

According to the Senate President, the Summit which is the first of its kind as a pre-public hearing stakeholders’ engagement, seeks “to stimulate understanding on the short- and long-term implications of relevant Bills before the two houses.”

He added that, “the Bills, including the Nigeria Oil and Gas Industry Content Development Act 2010 (Amendment) Bill, 2020 (SB.417), Nigerian Local Content Enforcement Bill, 2020 (SB. 419), and the Nigerian Oil and Gas Industry Content Act, 2020 (Repeal and Re-enactment) Bill 2020 (SB. 420), are obviously to increase composite value addition.

“This value addition expectedly developed from within, with the aid of local services and resources in the petroleum industry, should contribute to local capacity building, with considerations for the elements of health, safety and quality.”

Lawan while underscoring the need to develop the nation’s local capacities said, “we need to also appreciate that our social and economic conditions need continuous reviews for development, with a good quantum of home-grown fundamentals, and especially considering the new realities, brought by the Covid-19 pandemic.

“The pandemic reminds us of the need for resource independence, the strengthening of local capacity, and the importance of increasing indigenous variables in the Oil and Gas production, and in other areas.”

“The overall aim of this is the promotion of industrialization of the nation’s all-important Oil and Gas sectors, for enhancing the wellbeing of those in the industry and the overall growth of the Nigerian economy.

“We are actually at a time for more inward reflection, through the enhancement of internal capacity, towards productivity and efficiency, for national progress. This is all to satisfy the yearnings and aspirations of the people,” Lawan added.

[/read_more]

Today News Africa
Today News Africahttps://todaynewsafrica.com
Today News Africa is a US-based international news organization focused on US-Africa policy and breaking news. Our goal is to provide truthful and exclusive stories to a diverse audience across North America and the African Continent. Subscribe to our news page at https://todaynewsafrica.com/ and Follow us on Twitter @todaynewsafrica

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Now

TRENDING

Confidential U.S. government report concludes Ethiopia Prime Minister Abiy Ahmed leading ethnic cleansing in Tigray region

A confidential U.S. government report has concluded that the government of Prime Minister Abiy Ahmed in Ethiopia along with allied militia fighters are leading a systematic campaign of ethnic cleansing in Tigray."Whole villages were severely damaged or completely erased," the report, first obtained by The New York Times, says.It adds that fighters from the neighboring Amhara region of Ethiopia who moved to Tigray...

Stay connected

[/read_more]

[read_more id="2" more="Read full article" less="Read less"]

error: Alert: Content is protected !!
Share
Tweet
Reddit
Pocket
Share
More