Adu made the assertion in an interview with the News Agency of Nigeria (NAN) on Tuesday in Lagos.
He said that it was only government policy that would encourage the International Oil Companies (IOCs) to patronise their services under the local content drive.
The marine insurer said the IOCs, under the guise
of required standard of capacity bypass local insurance service providers thereby limiting jobs that would have been for Nigerians.
“Most of the time, people just shout we do not have the capacity.
“How can we have capacity when all the IOCs are giving insurance to their own mother companies abroad?
“They are not helping us because we need to grow capacity and it is only when we are being engaged that capacity can be developed with a properly-implemented policy,” he said.
Adu also noted that Nigeria was losing revenue by allowing Free on Board (FOB) in its vessels, that is, goods on which duties would not be paid.