Who needs a local content policy?
With the telecoms sector worth $32 billion and among the top ten fastest emerging markets in Middle East and Africa (MEA), CHUKWUDI OBI asks who needs a local content policy when there is much at stake. Local content policies are designed to encourage local companies, give them undue advantage over foreign companies and drive more local investment in that particular sector. To a large extent the local content policy as implemented in the oil and gas sector many experts say, has been successful to the extent of stimulating the industry, encouraging active local participation and encourage competition. But Federal Government’s Transformation Agenda has been hinged on increasing foreign direct investment and since inception of this administration, President Goodluck Jonathan and his lieutenants have not hidden their ambition to increase investments in the country. This, they have been pursuing vigorously, with some measure of success. It has paid off with Agriculture attr...