ABSTRACT
This chapter commences with a discussion of local content and participation (LC&P) aspirations. Next is a presentation of the mechanisms of value capture as well as the process of maximizing local value-add (LVA). This is followed by the development of policies and strategies for local content and private sector participation. Additionally, the building blocks of local content are discussed. Thereafter, government’s role in creating a level playing field is addressed. In the context of local content in the petroleum sector, some pitfalls to be avoided by host countries are highlighted. Finally, pertinent learning lessons for Ghana and other African oil-producing countries are presented.
