Nigerian senate president calls for improved capacities to achieve economic growth

Source: Xinhua| 2020-09-17 00:01:48|Editor: huaxia

LAGOS, Sept. 16 (Xinhua) -- Nigerian Senate President Ahmed Lawan calls for more efforts to strengthen the country's local capacities to achieve exponential growth in the economy.

Lawan made this known on Wednesday at the virtual opening of the Nigerian Content Summit jointly organized by the Senate Committee on Local Content and House of Representatives Committees on Content Development and Monitoring.

The summit which is the first of its kind as a pre-public hearing stakeholders' engagement, seeks to stimulate understanding of the short and long term implications of relevant bills before the two houses, he told his audience.

He said that the bills, including bills on oil and gas industry content development and local content enforcement, are obviously to increase composite value addition.

"This value addition expectedly developed from within, with the aid of local services and resources in the petroleum industry, should contribute to local capacity building, with considerations for the elements of health, safety, and quality," he said.

According to Lawan, the COVID-19 pandemic reminds Nigerians of the need for resource independence, the strengthening of local capacity and the importance of increasing indigenous variables in the oil and gas production. Enditem