Minister of State for Petroleum Resources, Timipre Sylva has lauded the Nigerian Content Development and Monitoring Board, NCDMB, for increasing local content participation in the country from less than three percent to 30 percent.
The minister gave this commendation at a special town hall meeting organized by the Bayelsa State Government, the Petroleum Ministry and other stakeholders in Yenegoa
He said there is no reason why the country should be importing everything including “knots and bolts” from outside Nigeria, adding that the NCDMB has “brought this opportunity for us here to bring companies that will operate here to produce those things to salvage this industry”.
“When all this facility have been commissioned, we will be able to produce most of what the oil industry require in Nigeria,” he added.
Sylva further noted that the roadmap for local content production is targeted at 70 percent by the end of 2027.
The Minister affirmed that the federal government is willing to promote more investments that will create jobs and prosperity for citizens of the state.
He added that the government is promoting the development of Nigerian Oil and Gas Park at Ogbia Local Government Area, and is facilitating the development of two modular refineries within the state, notably the 12,000 barrels per day Hydroskimming modular refinery being constructed by Azikel Petroleum Limited at Obunagha, Gbarain, and the 2000 barrels per day modular refinery being developed by Atlantic International Refinery and Petrochemical Limited at Okpoama, Brass Local Government Area.
In his response, the Executive Secretary of the NCDMB, Engr. Simbi Wabote while commending the President Muhammadu Buhari administration, noted that the project was only made possible because of Sylva’s support.
