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Local Content Roundtable Meeting

Diepreye Alamieyeseigha statue, Yenogoa, Bayelsa state © CC BY-SA 4.0

Yenagoa, the capital of Bayelsa (Nigeria), played host to the local content roundtable meeting with the
participation of all Africa’s oil producers. It was presided over by Chief Timipre Sylva, the State Nigerian
Minister of Petroleum Resources of Nigeria. Under His Excellency’s guidance, the oil industry is chan-
ging the game in the continent as stated by the representative of Niger’s Ministry of Oil. Since 2011, this
relatively young oil-producing country has experienced some challenges when it comes to local content,
even though important strides have been made. The setbacks faced by Niger is mainly due to a lack of
experience and proper jurisdiction. The situation in Niger is not unique, as this is a reality many Afri-
can countries share. However, Nigeria stands as a good source of inspiration, in addition to being a mo-
del and a potential partner. As State Minister Sylva has stated, Nigeria is the first African country that
has introduced legislation concerning local content and practices. In order to sustain economic growth,
local content is key to the economic development of Nigeria. In order to create wealth and economic
prosperity, African countries should have a solid model that enables its human capital to be at the
center of the development of their natural resources. The estimated crude oil reserve in Nigeria is 37
billion barrels and 220 trillion cubic feet of gas reserves.
Nigeria has witnessed an important progression in value addition, going from less than five percent to
35 percent between 2010 and 2021. The goal is to reach 70 percent by 2027 and given Nigeria’s trajecto-
ry, they are on target to meet that amount. Unfortunately, the reality of Africa’s oil producers is a little
gloomy as they have not fully benefited from their resources even though Africa accounts for over fif-
teen oil producers in the continent.
This roundtable meeting was an occasion to initiate conversations on local content, share success sto-
ries and come up with adapted policies for each country. Furthermore, it was a forum to allow African
oil producers to take the opportunity to advance the process towards free trade in Africa. The 54 coun-
tries within the African continent represent a market of 1.2 billion customers with a cumulated growth
of over 10.4 trillion dollars.
The minister’s advocacy resonated loudly among the participants and posed the crucial issues Africa
needs to face and quickly advance for the sake of all Africans. A Pan-African speech that has to be dis-
patched and acted on now.

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