By John Ikani
The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment to achieving its target of 70% local content in the oil and gas industry.
Speaking at the 2023 Nigeria Oil and Gas (NOG) Energy Week in Abuja, the NCDMB’s Executive Secretary, Engr. Simbi Wabote said the Board would continue to implement the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 to drive the development and utilization of in-country capacities.
According to him, the NCDMB had already made significant progress in increasing local content in the oil and gas sector, with the implementation rate rising from 26% in 2017 to 54% in 2022.
He attributed this success to the board’s strategic roadmap, which has focused on developing the capacity of the local supply chain and encouraging oil and gas companies to use Nigerian goods and services.
Engr. Wabote also encouraged industry players to familiarize themselves with the NOGICD Act and the Nigerian Content Regulations, which he said are essential tools for driving local content in the oil and gas industry.
While noting that the NOG Energy Week would provide an excellent opportunity for them to learn more about important pieces of legislation, Engr. Wabote added that the event would provide ministerial regulations, guidelines, tools and initiatives such as the Nigerian Content Equipment Certificate (NCEC), the Nigerian Content Intervention Funds (NCIFund) and Expatriate Quota, among others.
”We believe this will provide a good basis to facilitate the understanding of one of the key enactments guiding the oil and gas industry in Nigeria.
”We have selected three processes and initiatives for a deep dive during the panel sessions which are the NCEC, the NCIFund, and the HCD Guidelines.
”We aim to provide you with the information needed on these selected topics, get feedback on faced challenges, and provide guidance on steps to resolve the challenges free of charge,” he said.
The NOG Energy Week is a major event in the Nigerian oil and gas industry, and it brings together policymakers, regulators, and leaders from the private sector to discuss Nigeria’s energy agenda.
This year’s conference is themed “Nigerian Content Role in Achieving Energy Security,” and it will focus on the importance of local content in ensuring the long-term sustainability of the Nigerian oil and gas industry.
The NCDMB is a key player in the development of local content in the oil and gas sector, and its work is essential to the future of the industry in Nigeria.
The Board’s commitment to achieving 70% local content is a major step forward, and it will help to ensure that Nigeria benefits from its oil and gas resources in a sustainable way.
