The growth of the oil and gas sector provides immense business opportunities for indigenous Liberian businesses.
The Local Content segment of Liberia’s Petroleum Policy was developed by Liberia’s Executive arm of government, spearheaded by the Hydrocarbon Technical Working Committee comprising the following:
- President/ CEO NOCAL – www.nocal.com.lr
- Minister of Justice – www.moj.gov.lr
- Minister of Finance – www.mof.gov.lr
- Legal Advisor to the President of the Republic of Liberia - www.emansion.gov.lr
- Minister of Lands, Mines, and Energy – www.mlme.net
- Minister of Labor – none
- Chairman, National Investment Commission – www.nic.gov.lr
- Executive Director, Environmental Protection Agency -- none
It addresses a number of issues regarding Local Content Development:
- The Local content programs shall be designed to empower Liberians to participate in the oil and gas sector and promote added value in the Liberian economy through a systematic development of capacity and the utilization of indigenous Liberian human and material resources and services in the petroleum industry and related sectors.
- The Government shall adopt a petroleum local content strategy which will protect Liberian business interests and adequately develop the competence of Liberians to derive maximum benefits from petroleum resources.
- The Liberian government, seeks to pass this policy into law through the National Legislature, to mandate international oil companies to use the services of indigenous Liberian businesses. These laws will strengthen the local economy and ensure sustainable development.