The 10th Practical Nigerian Content (PNC) Forum, developed by the Nigerian Content Development and Monitoring Board for the purpose of developing domestic capacity has just been concluded. Our company Dorman Long Engineering Limited as an organization fully committed to growing and developing Nigerian Content in this industry was one of the sponsors.
The conversation around the drive for increased and improved indigenous content with an emphasis on Access to Funding for Indigenous Companies in the Energy Transition was a major topic for discourse at its 5th Panel Discussion.
Discussants emphasized the importance of providing real, credible, viable and practical solutions to the problems of obtaining financing and investment for and in the Nigerian oil industry.
Some core issues for discussion included
- Ways in which indigenous businesses can gain better access to a variety of bespoke funding options
- Ways in which the Nigerian oil and gas business remain competitive in the face of varied growth curves in energy transition around the world
- the means by which new marginal fields be supported financially?
Much of the discussion explored the available incentives which exist to attract both international and domestic investment in the establishment of infrastructure, factories, and manufacturing firms.
Our Chairman Dr Timi Austen-Peters was the moderator of the panel. Discussants included;
- NCDMB Director of Finance and Personnel Management – Isaac Yalah
- Chairman, Diversity Nigerian Content Consultative Forum – Alero Onosode
- Managing Director and Chief Executive Officer Century Group – Ken Etete
- Managing Director Bank of Industry – Kayode Pitan
- Managing Director, NEXIM Bank – Mr. Abubakar Bello
It was an enlightening session as the gamut of problems often experienced by industry participants were reviewed and solutions proffered.
The Practical Nigerian Content has proven to be a gathering of the problem–solvers in the oil, gas, and engineering ecosystem. The 4-day forum commenced with a Golf Tournament followed by the 2 –day conference. On the fourth day a there was a site visit to the Practical Nigerian Content site in Bayelsa State.