Jonathan: Oil Industry Must Lead Tech Devt, Urges Collaboration with Govt

Former President Goodluck Jonathan has called on Nigeria's oil industry to take the lead in driving technological advancement, describing the current situation as a "national dilemma." Speaking at the Sweet Crude Dialogue in Yenagoa, Jonathan emphasized that the industry's significant investments in equipment and logistics present a prime opportunity for local development.

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So, we can’t continue this way as a nation. Let me say, use what you have to get what you want.

Jonathan advocated for a shift in strategy, urging oil companies to collaborate closely with the government. This partnership, he believes, can enhance technical capabilities and foster the domestic production of essential equipment. "Since we have the oil, if we must develop technologically, we should start from the oil industry," he stated, highlighting that this approach is vital for the nation's diversification drive.

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Since we have the oil, if we must develop technologically, we should start from the oil industry, it’s a national dilemma.

He commended the Nigerian Content Development Management Board, an initiative he supported during his presidency, for its role in promoting local content. Jonathan argued that focusing solely on crude oil sales yields limited job creation and economic diversification. Instead, he stressed that developing the "other aspects of the operations of the oil industry," such as the local production of necessary equipment, is key to truly benefiting the economy.

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Jonathan expressed optimism that legislative frameworks like the Petroleum Industry Act can spur positive changes. He encouraged continued dialogue and collaboration among all stakeholders to propel progress within the oil sector and beyond, emphasizing that developing even "little things" used in the industry domestically is essential for the nation to gain substantial benefits from its oil wealth.

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What will diversify the economy is the other aspect of the operations of the oil industry. That means that the amount of local production of most of the things we need in the oil industry.