NNPC, Akwa Ibom Strategize To Establish Logistics Base

The Nigerian National petroleum Corporation has entered into collaboration with the Akwa Ibom state government to establish a logistics base in Ibaka local government of the state.

The corporation said in a Tweet that the partnership is part of efforts to develop capacity and grow local content in the country.

The Group managing Director of NNPC Mele Kyari and NNPC Board Members, led by the minister of state petroleum, Timipre Sylva, went on an inspection of a 2,000 acres of land donated by the Executive Governor of Akwa Ibom State, Udom Emmanuel

Recall that the Local Content Act was enacted in April 2010, providing a framework to increase Nigerian participation in the oil and gas industry.

This includes all activities, connected with the exploration, development, exploitation, transportation and sale of Nigerian crude oil and gas resources.

The initial impact of the Act has seen great changes being made, with most IOCs making efforts to comply with the provisions of the Local Content Act.

The initiative has provided an opportunity for Nigerian independent operators to be given first consideration in the award of oil blocks, oil field licenses, oil lifting licenses and in all projects for which a contract is to be awarded in the Nigerian oil and Gas industry.