Managing Local Content Policies in the Extractive Industries

Abstract

Developing countries and National oil companies (NOCS) states with maturing mineral sectors, particularly extractive industries have placed a renewed emphasis on increased local content participation by international oil companies (IOCs) in recent years. Host nations and NOCs are emphasizing that the desire for an increased contribution to the local economy and society and a strategic intent to pursue local content go beyond philanthropy, and are beginning to expand their perspectives and mind-sets regarding how local content policy in the extractive industries can be managed. The paper begins with the introduction and review of literature, local content policy in Nigeria, local content policy objectives, local content Development model, challenges of managing local content policy in the extractive industries, managing local content policy impact in the extractive industry, outcome to be achieved through managing local content policy, government’s efforts and Recommendations were drown.

Key words: Managing, Local Contents, Policies, Extractive, Industry.