Shell emphasizes partnerships, capacity building, and regulation compliance to boost local content in Nigeria’s oil sector. In 2023, Shell awarded $1.98 billion in contracts to Nigerian firms, enhancing their regional capabilities.He stressed the importance of enhancing local companies’ expertise through training and resource support. Shell has launched initiatives such as the Nigerian Diving School to boost local divers’ skills, introduced 3D printing technology locally, and conducted research on synthetic base fluid for drilling.
These efforts aim to strengthen supplier capacity.He also emphasized that adhering to local content policies is crucial, as it ensures Shell’s operations contribute to the local economy while building trust and collaboration with host communities.
Olawuyi emphasized that Shell views local content development as a long-term commitment rather than a quick achievement, likening it to a marathon rather than a sprint. He noted that prioritizing local content not only makes sound business sense but also delivers significant long-term value to the industry and the broader economy.
He highlighted that as the energy sector continues to evolve, local content strategies must move beyond mere regulatory compliance. Instead, they should focus on building value-driven partnerships, embracing new technologies, and creating lasting economic impacts.
According to him, the future of local content lies in fostering deep collaborations with indigenous companies, promoting knowledge transfer, and leveraging technological advancements to drive sustainable growth.Olawuyi further stated that companies willing to invest in innovation, digital transformation, and workforce development would be at the forefront of shaping the next phase of local content advancement.
He underscored the importance of developing local talent and integrating technology to empower Nigerian businesses, ensuring they play a more prominent role in the value chain.In his view, this holistic approach would not only strengthen the oil and gas sector but also contribute to Nigeria’s broader economic development, positioning the country as a hub for local expertise and technological innovation in the energy industry.
