360
W. Karanja and N. Njenga
job creation through the use of local expertise, goods and services
business, financing in the petroleum industry value chain and their
retention in Ghana.
63
d. Nigeria enacted the Nigerian Oil and Gas Industry Content Development Act in 2010.
64 This Act establishes a comprehensive local
content regime that enshrines legal measures which promote the
patronage of Nigerian products and services by operators in the Nigerian oil and gas industry. The Act was a culmination of the efforts
which commenced under the 1969 Petroleum and Drilling Act, The
Gas Master Plan and the previous version of the Local Content Act,
2003.
65
11.4 Corporate and Government Initiatives
to Seek SLO in East Africa
The principles of sustainable development demand that a balance must
be achieved between the freedom that oil and gas industry players have
in maximizing the use of these resources towards prosperity while also
managing the responsibilities that come with growth. Some of these
responsibilities accrue to the communities that host or are otherwise
impacted by these operations.
66 This led to the development of the
concept of ‘corporate social responsibility’ (CSR), upon which the acquisition of SLO is built. Though there is no universal definition of CSR, it
is generally held that it involves going beyond the basic business responsibility to maximize profits for the sake of shareholders to meeting the
63 ‘Petroleum (Local Content and Local Participation) Regulations, 2013’ (Reportingoilandgas.org, 2013). http://www.reportingoilandgas.org/wp-content/uploads/PETROLEUM
LOCAL-CONTENT-AND-LOCAL-PARTICIPATION-REGULATIONS2013.pdf, accessed
May 21, 2020.
64 ‘Nigerian Oil and Gas Industry Content Development Act 2010 Act No. 2’ (Ncdmb.gov.ng,
2010), https://www.ncdmb.gov.ng/images/GUIDELINES/NCACT.pdf, accessed May 21, 2020.
65 Enyoghasim M, Adichie I, and Olulu R, ‘The Local Content Law in Nigeria: Strategies for
Greater Impact on The Economy’ (iiste.org, 2017). https://www.iiste.org/Journals/index.php/
JRDM/article/viewFile/38101/39179, accessed May 21, 2020.
66 Emas R, ‘The Concept of Sustainable Development: Definition and Defining Principles’
(Sustainabledevelopment.un.org, 2015). https://sustainabledevelopment.un.org/content/docume
nts/5839GSDR%202015_SD_concept_definiton_rev.pdf, accessed May 22, 2020.
W. Karanja and N. Njenga
job creation through the use of local expertise, goods and services
business, financing in the petroleum industry value chain and their
retention in Ghana.
63
d. Nigeria enacted the Nigerian Oil and Gas Industry Content Development Act in 2010.
64 This Act establishes a comprehensive local
content regime that enshrines legal measures which promote the
patronage of Nigerian products and services by operators in the Nigerian oil and gas industry. The Act was a culmination of the efforts
which commenced under the 1969 Petroleum and Drilling Act, The
Gas Master Plan and the previous version of the Local Content Act,
2003.
65
11.4 Corporate and Government Initiatives
to Seek SLO in East Africa
The principles of sustainable development demand that a balance must
be achieved between the freedom that oil and gas industry players have
in maximizing the use of these resources towards prosperity while also
managing the responsibilities that come with growth. Some of these
responsibilities accrue to the communities that host or are otherwise
impacted by these operations.
66 This led to the development of the
concept of ‘corporate social responsibility’ (CSR), upon which the acquisition of SLO is built. Though there is no universal definition of CSR, it
is generally held that it involves going beyond the basic business responsibility to maximize profits for the sake of shareholders to meeting the
63 ‘Petroleum (Local Content and Local Participation) Regulations, 2013’ (Reportingoilandgas.org, 2013). http://www.reportingoilandgas.org/wp-content/uploads/PETROLEUM
LOCAL-CONTENT-AND-LOCAL-PARTICIPATION-REGULATIONS2013.pdf, accessed
May 21, 2020.
64 ‘Nigerian Oil and Gas Industry Content Development Act 2010 Act No. 2’ (Ncdmb.gov.ng,
2010), https://www.ncdmb.gov.ng/images/GUIDELINES/NCACT.pdf, accessed May 21, 2020.
65 Enyoghasim M, Adichie I, and Olulu R, ‘The Local Content Law in Nigeria: Strategies for
Greater Impact on The Economy’ (iiste.org, 2017). https://www.iiste.org/Journals/index.php/
JRDM/article/viewFile/38101/39179, accessed May 21, 2020.
66 Emas R, ‘The Concept of Sustainable Development: Definition and Defining Principles’
(Sustainabledevelopment.un.org, 2015). https://sustainabledevelopment.un.org/content/docume
nts/5839GSDR%202015_SD_concept_definiton_rev.pdf, accessed May 22, 2020.