Local content Act opens new vistas for oil communities

234Next (NAN)

13 June 2011

Local content Act opens new vistas for oil communities

Until recent times, the Niger Delta area of Nigeria had been an epicentre of agitation by people, particularly by militant youths, who felt cheated in the nation's scheme of things.

The armed confrontation perpetrated by the restive youths had been a justifiable source of concern to the government and the citizens because of its negative effects on the stability and economic life of the country.

All that is now history, as peace has returned to the Niger Delta, while the Federal Government's Amnesty Programme has guaranteed a new life for the ex-militants of the region.

However, observers maintain that the Nigerian Oil and Gas Industry Content Development Act 2010 represents another defining moment for the country's economy, aside from amnesty programme initiated by the late President Umaru Yar'Adua.