Nigeria seeks collaboration with 54 Africa countries on local content in oil sector

Nigeria has called for collaboration with 54 African Countries and cross-country development with the African Continental Free Trade Area (AfCFTA), to grow local capacities to drive economic growth in the sub-region.
Minister of State for Petroleum, Chief Timipre Sylva, made the call while declaring open the first Africa Local Content Roundtable, at the Nigerian Content Development and Monitoring Board (NCDMB) tower in Yenagoa, Bayelsa State, on Thursday.
The maiden Africa Local Content Roundtable was hosted by the NCDMB headquarters in Yenagoa.
He cited the collaboration as providing an opportunity to create a single market, through the facilitation of free movement of goods, services and investment within the 54 member states of AfCFTA.
Sylva said that any country that aspired to achieve rapid and sustainable economic growth must develop an economic model that enables its human capital to harness its natural resources to create wealth and economic prosperity.
He disclosed that the Federal Government of Nigeria had taken firm steps in funding two strategic energy projects in the country, including a 10,000-tonne per day methanol plant, a 500 million standard cubic feet per day gas processing plant in Brass, Bayelsa, and the Ammonia and Fertilizer plant in Akwa Ibom State.
“Indeed, AfCFTA provides an opportunity to create a single market, through the facilitation of free movement of goods, services and investment within the 54 member states of the Continent, creating access to 1.2 billion customers, with a cumulative Gross Domestic Product (GDP) of over US$3.4 trillion….TO CONTINUE READING PLEASE CLICK ONhttps://thefreezonechannel.com/nigeria-seeks-collaboration-with-54-africa-countries-on-local-content-in-oil-sector/