Funding key to achieving local content — Firstbank


Funding key to achieving local content — Firstbank

By Edith ike-Eboh

Ms Bashirat Odunewu, Group Executive, Energy Infrastructure, CBG, First Bank Ltd. said that funding was key to achieving local content in the county.

Odunewu spoke as one of the panelists at a session at the ongoing Nigeria International Petroleum Summit (NIPS), in Abuja, on Wednesday.

She said that funding projects that had local content remained a big challenge in the industry due to lack of return on investment.

“ Funding is the heartbeat of local content but what we have observed is that people don’t think of funding before signing a contract.

“It is very important to know that once you are pursuing a contract, you should be able to articulate how it will be funded,” she said.

She noted that most local contractors did not make use of professionals to manage finances, hence monitoring cash inflow remained a big challenge.

“I will like to advise contractors that to achieve local content, we must…

Source: News Agency of Nigeria