Chairperson of the Senate Committee on Native Content material, Senator Natasha Akpoti-Uduaghan, has challenged the Nigerian Upstream Petroleum Regulatory Fee (NUPRC) to implement insurance policies compelling Worldwide Oil Firms (IOCs) to prioritize native corporations for challenge execution.
At a high-profile assembly involving the Senate Committee on Appropriation, the Nigerian Nationwide Petroleum Company (NNPC), and the NUPRC, the senator raised issues over the systemic sidelining of Nigerian firms, utilizing Samsung Heavy Industries Nigeria as a case examine.
Regardless of a $272 million funding in a state-of-the-art fabrication facility in Lagos and the coaching of over 500 Nigerians, Samsung has solely been awarded one challenge since 2013—a scenario Senator Akpoti-Uduaghan described as each unsustainable and economically detrimental.
“Native firms like Samsung possess the capability and infrastructure to execute upstream initiatives effectively,” Senator Akpoti-Uduaghan stated. “By participating such firms, we are able to cut back manufacturing prices, shorten turnaround occasions, and, most significantly, create hundreds of jobs for Nigerians.”
She expressed dismay that IOCs proceed to outsource contracts to international corporations, undermining the financial potential of native companies which have invested closely in capability constructing and infrastructure.
Akpoti-Uduaghan referred to as on the NUPRC to implement compliance with native content material legal guidelines, emphasizing that Nigeria’s financial future hinges on inclusive insurance policies that favor homegrown enterprises.
“This neglect sends the improper sign to international buyers, who are sometimes lured with guarantees of native engagement and mutual profit. It’s time we uphold these guarantees to foster belief and financial development,” she added.
Responding to the senator’s issues, NUPRC Chief Government Gbenga Komolafe acknowledged the challenges however provided a extra optimistic outlook.
He famous a rise in Nigeria’s rig rely from 94 p.c to 31 p.c, attributing it to current enhancements in capital expenditure and coverage implementation.
“Whereas these numbers are promising, we acknowledge the necessity for deliberate motion to make sure native content material compliance turns into the usual, not the exception,” Komolafe said.
