By John Ikani
The House of Representative Committee on Nigerian Content Development & Monitoring has commended the Nigerian Content Development & Monitoring Board (NCDMB) for its attainment of 42% Local Content in the Nigerian Oil and Gas Industry between 2016 and 2020.
The Committee led by its Chairman, Hon. Legoh Idagbo gave the commendation when they visited the Nigerian Content Tower on Monday as part of their oversight visit to the Board.
According to him, the growth of Nigerian content in the Oil and Gas sector “is an eloquent testimony of the efforts of the NCDMB.”
The Committee Chair also lauded the Board on the creation and deployment of its $300million Nigerian Content Intervention Fund which he testified to have significantly impacted the Nigerian economy and developed key capacities of Nigerian companies.
Hon. Idagbo went on to commendably reel off a long list of NCDMB’s achievements, among which was the Board’s “adoption of the Silicon Valley model to drive innovation and enterprise development by commissioning a Technology innovation hub and Incubation Centre within the Nigerian Content Towers.”
Others were the Board’s “partnerships with Waltwersmith Refineries in creating a 5000BPD refinery in Imo State as well as its overwhelming support for the passage of two bills in the House aimed at improving the NOGICD Act and extend Nigerian Content to other vital sectors of the nation’s economy.”
The lawmaker also called for a deeper partnership between the Board and House Committee.
Responding, the Executive Secretary of the NCDMB, Engr Simbi Wabote noted that the importance of Local Content development to the industrialization and all-round development of Nigeria cannot be over-emphasized.
According to Wabote, happenings around the world such as the ban by some airlines following new Covid strands underscore the need for Nigeria to develop local content.
The Executive Secretary thanked the honourable members of the House Committee on Nigerian Content Development and Monitoring for their timely oversight visit to the Board, as it affords members the opportunity to have first-hand experience of the workings of the Board, even as the Committee works on two important bills to further develop local Content in the Country.
“The Nigerian Oil and Gas Industry Content Development Act 2010 is a product of the National Assembly, so it is only natural that an amendment of that bill is done by the National Assembly,” he said.
Wabote further made a detailed slide presentation to the members that touched on
1. Background, which provided the background to the establishment of the NCDMB;
2. NOGICD Act where he discussed key provisions of the NOGICD Act of 2010;
3. Highlight key achievements so far realized by the Board to deepen Nigerian Content level in the Oil and Gas Sector.
4. Outlook, where he provided an overview of the Board’s 10 Years Strategic Roadmap.
During his presentation, Engr Wabote also thanked the National Assembly for the passage of the Petroleum Industry Act (PIA) which he rightly noted has further reinforced the role of the NCDMB in the Oil and Gas Industry. He hailed the PIA as “a good bill that if well implemented will positively change the face of this country.”
