Nigerian Firm Invests $273m to Boost Local Content Development
Managing Director of testing and calibration laboratory, Mudiame International Limited, Sunny Eromosele has told media that the Nigerian firm will be investing 98 billion Naira ($273 million) in developing local content and human capacity.
According to reports the company is nearing completion on the construction of its Mudiame University in Irrua, Esan, Edo State. The primary focus of the university will be improving human skills as local content continues to grow in the country’s energy and manufacturing sectors.
“As a company leading in the aspect of quality control, we are investing in human capacity development. That is very important. The people need to be developed first, that is why we set up a welding institute. We are not ending with that, to be able to capture the sector better, we are setting up a university. We are going to have an industry-based university that will support the oil and gas and manufacturing industry,” Eromosele told media in Abuja on July 11.
Eromosele stressed the importance of investing in human skills as part of economic development. “Can Nigerians boast of designing and building the refineries? Laboratory should be invested in; training centers should be invested in. This will not only provide support for the oil sector but also help the manufacturing industry grow,” he said.
Nigeria’s local content policy is intended to boost entrepreneurship and domesticate assets in order to achieve strategic developmental goals.
With a dedicated practice area for local content, Centurion Law Group understands the importance of national ownership and operatorship in the African energy sector. To learn more about our team and our local content practice, contact us here.
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