The Local Content Act of 2010 provides that Nigerian content must be mandatorily considered as a key element of project development in the industry. The Act has aimed to grow local content participation in the oil and gas business to more than the current levels. The Act has restricted participation in OCTG tenders to Nigerian companies with in-country Machine shops and threading facilities.
This has translated into further development of the Nigerian oilfield industry capacity, and growth for the Nigerian people via increased job opportunities as well as domiciliation of revenue and proceeds from the oil and gas industry. The National Petroleum Investment Services (NAPIMS) and JV E&P companies ensure compliance with the Local Content Act, by utilizing the technical evaluation exercise of the NCDMB as a yardstick. Titan Tubulars is fully committed to this Act and we have instituted processes to follow it as an organization.
Through our continuous participation in the industry and our global presence, we have been able to increase local participants and interests in the industry. By connecting local participants with resources and opportunities, facilitating partnerships, and providing training programs, we are creating new economic opportunities and contributing to the growth of the industry.
We have made significant investments in STEM subjects as part of our bid to support local capacity development. By prioritizing human capital development, we are not only investing in the future of the industry but also contributing to the economic development and well-being of local communities.
We continue to prioritise indigenes in our hiring process which has put indigenous participation in our company at over 95%. This is also reflected in our continuous investment in the development and training of local workers. Through this, we have built a skilled and knowledgeable workforce that can contribute to the growth and sustainability of the industry through their participation. These skilled workers negate the need for foreign expatriates and increase Nigeria’s profile in the industry.
All our assets and intellectual property are owned by our Nigerian holding company. This ensures that they are fully protected and utilized for the benefit of the local economy. This approach allows us to maintain a strong local presence and ensures that the benefits of our operations stay within the country by domiciling revenues and creating local employment opportunities.
Key partnerships with leading OEMs enable us to provide support and contribute to true technology transfer as well as accelerate local capacity development. By leveraging our collective strengths and collaborating closely with our partners, we can offer innovative solutions that address the unique needs of our clients.
Most of the services provided by Titan Tubulars are performed domestically, which has a significant impact on the overall benefits to the local economy. Our value chain is built by sourcing raw materials and operation needs locally from established Nigerian companies. Our commitment to the local value chain not only strengthens our partnerships with local businesses but also ensures that we are contributing to the economic development and sustainability of the regions we operate in.
Titan Tubulars remains dedicated to showcasing its local content proficiency across various exhibitions and conferences within the industry. By displaying our local content proficiency, we hope to inspire others in the industry to prioritize and invest in local participation. We believe that by working together and supporting local businesses, we can build a stronger and more sustainable industry for the future.