The Guardian's Special Focus on leading champions of local content driving Nigeria's economic growth: Part one
Over the last twelve years, Nigeria has grown to master the practice of local content, to the extent of mentoring other resource-rich countries such as Uganda in promoting their own industries. Nigeria is one of the few countries to have enacted a primary regulation dedicated to it, with a broad objective to domicile a share of the US$18 billion average annual spending on exploration and production by IOCs. Nigeria’s pursuit of local content has greatly facilitated the growth of local service providers and contractors. It has also fostered a mutually-beneficial relationship between international and local companies.