Nigerian Oil and Gas Industry Content Development Act | KPMG | NG

Nigerian Oil and Gas Industry Content Development Act

Nigerian Oil and Gas Industry Content Development Act

The Nigerian Oil and Gas Industry Content Development Act (“the Act”) is designed to enhance the level of participation of Nigerians and Nigerian companies in the country's oil and gas industry.

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Nigeria Oil & Gas Content Development Act

Recently, the President of the Federal Republic of Nigeria signed the Nigerian Oil and Gas Industry Content Development Bill into law. The Nigerian Oil and Gas Industry Content Development Act (“the Act”) is designed to enhance the level of participation of Nigerians and Nigerian companies in the country's oil and gas industry. With the promulgation of the Act, the Government has clearly established its intention to increase indigenous participation in the industry in terms of human, material and economic resources. The implementation of the Act is expected to significantly change the current business and operating structure in the Nigerian oil and gas industry, particularly for the international oil service companies.

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