Nigeria's president Goodluck Jonathan has inaugurated the Nigerian Content Development Board to ensure the fulfilment of the aims of the landmark local content legislation for the oil and gas industry signed earlier this year.

Press agency Next reports that Mr Jonathan said the board will be instrumental in allowing Nigeria to achieve its aim one of the world's major industrialised economies within the next decade.

The local content legislation promises a greater portion of oil and gas revenues for Nigerian companies while also improving access to employment in the sector through training and development.

"We must drive the implementation of this law in a manner that develops partnerships between local and international companies and government and the private sectors of the economy," said Mr Jonathan.

He added that only with full participation in the sector will the country achieve the "high standards required" by the global oil and gas industry.

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