We have been in the oil and gas exploration, production and distribution for over 60 years and some of the real benefits are still monopolised by foreign operators. So, we (have) selected indigenous firms that we can help through financing, business opportunities and promote them to the next level. Kachikwu held that local engineers could equally hit about 60 per cent participation, while employment statistics as well as other multiplier effects would significantly increase. To him, the move was a milestone to the realisation of the local content objectives in the country. Regarding non-financial interventions, Wabote said the initiative would provide strategic business and technical support, access to market as well as promote local capacity development.

Source: The Guardian February 01, 2019 04:30 UTC