This paper examined the Local Content Act, 2010 in the oil and gas industry in Nigeria and its operability and realisation of the aims and objectives. Human capacity-building and development of the local populace by giving opportunity to Nigerians to be effectively involved in the industry as a cardinal objective was so far given reasonable attention, as against the hitherto monopoly of the industry by foreigners. Job opportunities resulted and taken by Nigerians for skilled and unskilled workers; even as many Nigerians received various trainings for skills acquisition. The paper noted gaps to be filled as the level of expertise of Nigerians still fall short of expectation. It recommended measures to improve the realisation of the objectives of the Act such as aggressive investment in research and development to enhance transfer of technology.