Amidst the threat of energy transition and dwindling funding of the hydrocarbon industry, 18 member countries of the African Petroleum Producers Organisation are attending the third edition of the Africa Local Content Roundtable to chart a pathway for the sustainable development of local content and the oil and gas industry inthe continent.
The NCDMB boss further remarked that “since its maiden edition in Yenagoa, Bayelsa State, Nigeria, the African Local Content Roundtable has continued to play an important role in advancing local content development across Africa by raising awareness of its importance, formulating supportive policies, and ultimately strengthening the capabilities of local players across the oil and gas value chain”.
Mr Ibrahim identified funding, technological expertise, and access to the market as major challenges that APPO is developing strategies to overcome to make the continent self-reliant. “Essentially, Africa did not explore and produce oil and gas for Africans but for other regions that is why despite the incomes that our countries have made from the resources, we are still dependent on foreign investments to do oil and gas business in Africa.
In his address, the Minister of State for Petroleum Resources , Heineken Lokpobiri observed that APPO’s collective duty revolves around the responsible management of the oil and gas sector, hinting that collaboration would engender sustainability.
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