FG To Maximize Local Content Opportunities In Midstream/Downstream Sectors
In a year in which unemployment rate is projected to reach 33 percent, it is indeed laudable that the Nigerian Content Development and Monitoring Board (NCDMB/the Board) are at the centre of optimizing opportunities for job creation. To break this down, Unemployment rate refers to the share of the labor force that is without work but available for and seeking employment; meaning that, of every 100 eligible workers, 33 are jobless.
It is without doubt that opportunities abound in every sector of the economy, one major challenge has been that of harnessing the resources we have to create jobs. I am certain that if all the natural resources we have in Nigeria were to be harnessed, Nigeria will become a nation where every eligible worker will be engaged.
Perhaps, if every sector of the economy, that is involved in production at some level, becomes driven in similar terms as the Board has done in creating opportunities by partnering with the Waltersmiths of their respective industries that have the technical know-how, we may well be on a fast lane at reducing the unemployment rate in Nigeria, in such proportions that will positively impact the economy.
As a midstream operator in the oil and gas industry, Caracal continues to improve on its local content support and human capacity development by partnering with different organizations to secure the training of indigenous hands. Our business expansion drive and employment of indigenous service providers on a priority basis, all operate to create job opportunities that ensure indigenous capacity development. In fulfilment of our Nigerian Content Policy, we will continue to explore means to contribute our quota to the overall objective of our local content legislations.
Only when we harness our resources can we become a production-based economy and when we are production-based it translates to job opportunities that abound in the production chain, having our teeming labour force engaged with work. Only then can we begin to talk about exporting our products to commercial hubs around the world for significant national revenue.
Editorial by David Ibukun (Chief Compliance Officer)