Oil majors, Shell and Chevron have made fresh commitment to strengthen Nigeria’s local content drive in a bid to increase the presence local inputs.
For the last 10 years, Chevron said it has spent an estimated annual average of $1 billion on Nigerian suppliers and service providers, which amounts to over $10 billion, while said this week it’s awarding contracts valued at $1.98 billion to indigenous companies.
Chevron promised to increase its participation in building virile local content structure in Nigeria through robust partnerships with local businesses operators.
“We do all this, not because we are compelled to, but because it is the right thing to do,” the Company said.
It said that Nigerian content development is critical for the growth and development of the nation as it progresses in its quest to acquire oil and gas technology and build indigenous capacity in the oil and gas industry.
Chairman and Managing Director of Chevron Nigeria and Mid-Africa Business Unit, Jim Swartz made this remark at a Panel session on The Next Frontier for Nigerian Content: Divestments & Offshore Opportunities, during the 2024 edition of the Practical Nigeria Content Forum organized by the Nigerian Content Development and Monitoring Board (NCDMB) in Yenagoa, Bayelsa State from December 2 to 5, 2024.
Jim noted that as an industry that thrives on partnership with key stakeholders, the Nigerian oil and gas industry is expected to continue to play an active role in prioritizing Nigeria content development and building local capacity in the industry.