Abstract
No doubts the enactment of the Nigerian Oil and Gas Industry Content Development Act in 2010 has positively impacted hugely on the development of the oil and gas industry in Nigeria. Its impacts are seen in the areas of job creation, reduction in capital flight, utilization of Nigerian indigenous companies and Nigerian made goods and services. There is reduction in the engagement of expatriates. The Act made provision for succession plans for positions not held by Nigerians to be occupied after the expiration and exit of the expatriates on the job after four years of Nigerians learning on the job from the expatriates. The Act has also put Nigerians and Nigerian made goods and services first by the establishment of the first consideration principle which is provided in the Act. However, low compliance level of the international oil companies and indigenous oil and gas companies to the NOGICD Act; Lack of sustainable financing and low patronage of Nigerian services are factors believed to have impeded on the effective implementation of the Act. However, this study was able to reveal the unique opportunities drivable from the Act in creating awareness to Nigerians in terms of First consideration principle which provides that Nigerian independent operator are given first consideration in the award of oil blocks and oil field licenses. Nigerians are given opportunities in training and employment, first consideration as given to Nigerian goods and services.
Keywords: Analysis, Benefits, NOGIDC Act 2010, Oil & Gas Industry, and Nigeria.