ANNOUNCEMENT 22 Apr 2010In April 2010, the government of Nigeria announced a changed incentive to localise business operations.
NUMBER OF INTERVENTIONS
Nigerian Oil and Gas Content Development Bill 2010. Available at http://www.nape.org.ng/images/stories/Nigerian%20Content%20Development%20Bill%202010.pdf
Onuah, F. 2010. 'Nigeria's acting leader signs local content oil bill.' Reuters Africa. 23 April. http://af.reuters.com/article/topNews/idAFJOE63M03V20100423?pageNumber=1&virtualBrandChannel=0
Odujinrin & Adefulu. (2010). An Overview Of The Nigerian Oil And Gas Industry Content Development Act 2010. Available at http://www.mondaq.com/article.asp?articleid=99294
The Nigerian Oil and Gas Industry Content Development Bill (2010) has been signed into law by the acting president Goodluck Jonathan. The law gives preference to local companies in the oil industry in Nigeria and seeks to encourage local employment.
The new law sets comprehensive and detailed discriminatory requirements for projects in the oil and gas industry. Not only are services and equipment used for the exploration natural resources subjects to the new rules. Also, auxilliary services such as financing and insurance are affected by the new law. The following list seeks to enumerate the core aspects of the bill: