Captain Niyi Adeyemo (Master Mariner)
The local content law will succeed if the government do not allow politicians to hijack it. To ensure this, the Government should be serious and monitor it and ensure that those who are expected to benefit from it are also involved in its implementation.
This is because if the local content law is to succeed, the Indigenous Ship Owners Association of Nigeria, (ISAN), should be actively involved. They have greater roles to play in its implementation. Also those engineers who are paramount to marine business should not be left out. If all these issues are taken into consideration, the local content law will surely succeed. It is a welcome development.
Captain Adewale Ishola (Master Mariner)
The local content law is one of the greatest things that the present administration has done in recent time. Indeed, the law will encourage involvement of more Nigerians in the sector. Also indigenous companies who are involved in oil and gas will also benefit immensely. Besides it will enhance human capacity development
Engr Alex Peters. (Marine Engeneer)
The local content bill is a welcome development. It will encourage Nigerians who have been long deprived of doing business in the oil and gas sector. It is now left for the Nigerians to take advantage of the law and participate actively in the oil and gas sector especially those who have tank farms and those who have long been deprived.
Oritsematosan Edodo-emore (Maritime lawyer)
Nigerians will benefit from this law in several ways, first of all the vessels that transport our crude oil to start with; we will now insist that they be Nigerian and owned by Nigerian companies, also all the smaller service vessels that work in the oil industry will now have to be owned by Nigerian companies and the crews on board those vessels must be Nigerians because the Cabotage law already said that, now we can try and insist that all these smaller vessels be built in Nigeria, so the local content law is to the benefit of the industry.
I believe that the international partners will recognize our need to grow our own capacity locally; they will want more than ever to collaborate with us because it means that if they don’t collaborate with us, then there is no business for them. So it is not in the interest of the foreign partners to either antagonize the industry or act negatively in any way.
Ossai Uwaka (Petrol marketer)
It is good that the bill has been signed into law and we expect that we will see its effect. But for it not to be just an ordinary noise just like the Cabotage law, the political Will must be there in order to achieve it, the bias and prejudice must be totally wiped off if we don’t want it to be just like the Cabotage law.
Also, materials and equipment must be there in order to work on a level plain ground unlike the Cabotage law that there was nothing for indigenous people to work with.
Dayo Adesanya (NITOA)
I think the bill is jeered towards the development of the nation; it’s jeered towards making sure that Nigerians really benefit from the oil and gas sector and to empower Nigerians generally. I believe Nigerians will now begin to reap the benefits of the natural resources that we have been blessed with.
Nigerians will benefit from that law in the area of capacity development and employment, it will create more business opportunities for people generally, and Nigerians will now also become participants in the lifting of our crude. I also understand that 10 percent of the income by the multi nationals will remain here to strengthen our banks.
Ms Funmi Folorunsho (DG, ISAN)
The local content law is the best thing that has happened to this industry outside the Cabotage law. If the local content law including the Cabotage law is well implemented, it will secure eighty to ninety percent participation for the industry for, it is a bill that we should applaud and seek its implementation.
Chris Iyasere (Petroleum businessman)
In the past, it is like a lot of the job in the oil sector are being handled by the expatriates without giving consideration to local inputs, but in Nigeria now you can see that we are developing and lots of professionals are coming in. But today with the passage of that bill, Nigerians will benefit a whole lot because economically, it will improve standard of living, it will also reduce capital flight because of the local inputs.
However, anything that is introduced into this country takes gradual process for it to be properly implemented, it is not going to be automatic as it were but as time goes on and with the media focusing on it, I believe they will implement it. Also with the approach of the acting president so far, I think he is an in-depth person when it comes to issues of implementation, especially when the new ministers were sworn in, his emphasis was on implementation and accountability. I think the law will be closely implemented.
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