An Assessment of Local Content Act in Nigeria Oil and Gas Industries (2010-2014)
Local content are government interventions that look to increasing the long term, the share of employment or sales to a sector that are locally supplied to each stage of the value chain, it can also mean that part of a broader category of policy intervention called productivity development policies or industrial policies. This study draws from a corollary of study on local content using content analysis. The specific time frame of 2010-2014 is instructive because of the codification of the local content act between these periods. The study argues that international oil companies that with its large members of expatriate workers deployed to carryout projects in various onshore and offshore locations in the country. This caused “slave labour” in the industry where expatriate workers were paid thrice their Nigerian counter parts. Anchoring the theoretical foundation on Marxist political economy approach, the prevailing conflictual social relation of production in the Niger Delta shows the dynamic nature of the theory. The study recommends that these countries must consider the domestication of all oil and gas activities with a view to conserving its scarce foreign exchange and also in the process provide employment to its ever increasing population through technological transfer.
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