In line with the Nigerian content policy of the Government of Nigeria, 3T Worldwide QRI (Nigeria) Limited (henceforth referred to as 3T) has put in a Nigerian Content Policy so that it can impart its world renowned best practices and knowledge to the Nigerian Nationals. Apart from capacity building, which 3T undertakes for its local staff on such practices, it also influxes a lot of foreign exchange and monetary value into the Nigerian economy.
The broad guiding principles for 3T to adhere to the Nigerian Content Value Proposition of Federal Government of Nigeria is as enumerated below,
- For procurement of materials 3T will give the first priority to the Nigerian suppliers, however, uncompromising on quality and cost.
- The income accrued due to the transactions would be subjected to the Company Income Tax as well as Education Tax.
- The marine and other insurance required for each shipment, would be done in Nigeria.
- All the documentation processing will be done through Nigerian Banks
- All the importations would be subjected to the customs and other duties which will be paid in Nigeria and will add value to the Nigerian economy.
- The clearing of goods will be done by the local company.
- All the inland transportation within Nigeria will be done by the locals and hence adding value to locals.
- The other insurance requirements like third party liability, workmen’s compensation, goods in transit, property insurance etc is done in Nigeria.
- The expatriates employed in the project would be paying PAYE tax and hence adding value directly to the Nigerian economy
- The expatriates employed in the project would be earning and spending in Nigeria, hence indirectly adding value to the Nigerian economy
- The locals employed in the project will not only have the monetary benefits, but also the learning experience.
- If an opportunity arises for reverse engineering of any materials, it would be done in 3T’s workshop in Nigeria, by the local engineers, under the direct guidance of the technical manager of 3T Worldwide. This can be an extreme value addition, not only in terms of monetary benefits that can be gained in future, but also the knowledge it will impart to the Nigerian Engineers.
- All the expatriates deployed in the project will have NYSE industrial trainees attached to them for knowledge transfer.
- The services that involves working with any community, they will be taken care of by means of community upliftment activities – both monetary as well as in kind.
- All the facilities, warehouses, workshops etc used for the service in Nigeria will involve maintenance and upgradation and would require equipments from time to time, will be procured locally.