The Impact Of Local Content In The Development Of Insurance Business In Nigeria

ABSTRACT Prior to the introduction of the local content initiative, the rate of capital flight from the oil and gas sector was colossal. This trend was not encouraging for a nation that hopes to become one of the 20 leading economies in the world. Therefore in a bid to stem this trend, the Federal Government in 2007 introduced the Local content initiative.  This work therefore aims at finding the prospect for growth in the Insurance industry. Questionnaires and oral interviews were used in gathering information for this project work. Some insurance companies in Port Harcourt were visited in o…