The National Insurance Commission (Naicom) and the Chartered Insurance Institute of Nigeria (CIIN) have teamed up to prepare national insurers to operate in accordance with the Local Content Act legislating the country's oil and gas sector.

Vanguard reports that the one-day training session, taking place in Lagos next week, will focus on sensitising national insurance to international standards of best practice for insurance in the oil and gas industry.

Sunday Thomas, director general of the National Insurers Association, said the insurance sector must be prepared to accommodate the burgeoning growth in the oil and gas industry the new legislation will promote.

"The law would transform the industry from a major importer of goods and services to an industry that sources a substantial proportion of its inputs locally to support operations, thereby empowering Nigerians," he said.

The Local Content Act, incorporated into law earlier this year, imposes strict commitments on international oil and gas companies to prioritise the employment and training of Nigerian workers at all operational levels.

Getenergy for Western Africa