On the 22nd of April 2010, the Federal Government of Nigeria enacted the Nigerian Oil and Gas Industry Content Development 2010 Act (NOGICD) to promote indigenous participation and develop local oil and gas industry capacity. The Act provides for Nigerian content development in the Nigerian oil and gas industry; the Nigerian content plan, supervision, coordination, monitoring and implementation of Nigerian content; and related matters. This study looks at the NOGICD Act, its impacts, challenges and projections.

PAPER BY: Damilola Vordah Imong  INTRODUCTION  The Oil and Gas sector of the Nigerian economy has hitherto, remained the mainstay of the country’s capital value chain and the most remarkable component of our National Gross Domestic Product. Given this incontrovertible fact, it has therefore become highly imperative that the Act be revamped and its provisions brought […]

On the 5th of May, the Group Managing Director of the Nigerian National Petroleum Corporation, Mallam Mele Kyari, announced that the Federal Government was set to conduct bidding rounds for marginal fields. Subsequently, this announcement was affirmed by other officials in the oil and gas industry. Should the bidding rounds be conducted, 56 marginal fields […]

THE IMPACT OF THE NIGERIAN LOCAL CONTENT POLICIES ON HER INTERNATIONAL TRADE OBLIGATIONS While the NOGIC Act principally entrenches local content in the Nigerian petroleum industry, on the other end of the tunnel, Nigeria is a member of the World Trade Organization (“WTO”) and a signatory to the WTO Agreements, some of which prohibit the […]

Introduction The Nigerian petroleum industry has been the key driver of the country’s economy for many decades, constituting more than 14 percent of Nigeria’s GDP and 95 percent of its foreign exchange earnings. 75 percent of federal revenue comes from taxes on the oil and gas sector, and oil and gas makes up more than […]

Transportation of an oil and gas is an important part of the oil supply chain. After exploration, development and production (Upstream stage) there is need for it to move from one location to another either for refining or for distribution to the end users. Oil since it appears in liquid form is easier to move […]

  Nigeria faces the dilemma of enacting and implementing effective oil and gas policies that will help in meeting its national objectives and also encourage investment in the sector. As new trends emerge in the oil and gas sector, there arises the need for contracts that will protect the country’s interest and also that of […]

The Organization of Petroleum Exporting Countries (OPEC), made up of fourteen oil rich countries reported that world oil demand has been projected to rise by 1.29 million barrels per day (b/d) in 2019. As a result, total world oil demand is anticipated to reach 100.8million b/d. Nigeria is the sixth largest oil producing country in […]