Developing local content and capabilities will drive economic prosperity across Africa, according to Nigerian Content Development and Monitoring Board Executive Secretary Simbi Wabote.
Speaking at the 2023 Africa Energy Week in Cape Town, South Africa, on Thursday, October 19, Wabote said African nations must build expertise and capacity locally to process, utilise, and export their resources. This will power growth, create jobs, generate revenue, and develop skills.
Currently, most African countries lack capabilities in key oil and gas areas like engineering, procurement, construction, fabrication, installation, commissioning, and operations. This results in lost opportunities and revenues flowing overseas. Developing local capacity in these areas will retain more spending and benefits nationally.
Wabote advised making local content a national priority with supporting laws and frameworks. Regular gap analyses will identify areas needing work and track progress. Local conditions shape strategies, so copy-paste approaches don’t work.
Building local capabilities in Africa’s energy sector will drive prosperity. Wabote and Nigeria provide a model, with local content rising from 5% to 30% over 10 years. Localising content and capacity unlocks national benefits from Africa’s resources.