Title:
ENFORCEMENT OF NIGERIA OIL AND GAS INDUSTRY CONTENT DEVELOPMENT ACT 2010 AND TECHNOLOGY TRANSFER IN THE PETROLEUM INDUSTRY

Authors:
Okorie Albert , Dr Ifeanyichukwu Abada and Raymond Adibe PhD

Abstract:
Nigeria is endowed with enormous natural resources including oil and gas; the sixth in global ranking. However the exploitation and utilization of these resources remains a critical challenge, largely on account of technology capacity gap. As a result Nigeria relies on International Oil Companies for major operations in the industry. The quest to address this challenge informed the enactment of the Nigeria Oil and Gas Industry Content Development Act 2010. Unfortunately, the enforcement of the Act has failed to address the technology gap, largely on account of the rentier character of the state which has encouraged violation of relevant provisions of the Act on technology transfer. The study adopted documentary method for data collection and analyzed using content analysis. The study recommends domiciliation of IOCs R&D departments in Nigeria and withdrawal of operational licenses among penalties for violation of the local content laws