Local Content Strategy
Syncoil is truly an indigenous E & P company in Nigeria (with 100% Nigerian workforce) and therefore is in compliance with one of the cardinal principles of the Nigerian content act. We are conversant with the facts, expectations and imperatives of the Nigerian Content Policy/Acts aimed at maximizing value creation through boosting of local content for sustainable development of Nigeria as a whole.
It is therefore our policy to continuously grow Nigerian content in the oil and gas industry in a competitive and efficient manner in support of the Federal Government’s aspirations to the benefit of the local economy.
The utilization of local resources shall be our utmost priority in executing all jobs because we are a truly indigenous E & P company.
Syncoil’s local content strategy includes but is not limited to:
- Encouraging the use of Nigerian made materials, products and supplies.
- Encouraging value creation through adequate utilization of depth and wealth in Nigerian human resources talents.
- Appropriate knowledge base/technology transfer plan.
Use of Nigeria financial institutions and Nigerian investors – Our goal is to attain 100% Nigerian investors by 2016 with 10% of the investors coming from the local communities through shareholding at a nominal value so as to give a sense of belonging and commitment to protecting community assets.
