By John Ikani
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has said the implementation of NCDMB/NAICOM guidelines will strength the Board’s local content drive.
Engr. Wabote made the assertion when the Board hosted the Commissioner for National Insurance Commission (NAICOM) Mr. Sunday Thomas and his team at the Nigerian Content Tower, Swali, Yenagoa for the official launch of the NCDMB/NAICOM Insurance Guidelines.
In his remarks, Engr Wabote said: “Today’s event marks yet another giant stride in our quest to actualize the Board’s mandate under the NOGICD Act, 2010, which is primarily to drive and promote Nigerian Content in the Nigerian Oil and Gas industry”
“This event is the culmination of consistent, persistent and rigorous engagement between the Board and NAICOM in the last twelve months. This engagement, and the outcome, between the two agencies speak to the advantage derived from collaboration.” he noted.
“The success of our engagement, earmarked by this launch of the Insurance Guidelines, further attests to my belief that the local content enforcement and implementation is not a sprint but a marathon.”
“It is believed that the implementation of this Insurance Guidelines will further strengthen the Board’s local content drive and ensure that a greater portion of the spend in the Insurance industry as it relates to oil and gas activities in Nigeria is retained in-country,” he said.
On his part, NAICOM Commissioner, Mr. Thomas, expressed optimism in relation to the benefits inherent in the partnership with the NCDMB on insurance programmes.
He therefore implore all operators, project promoters, alliance partners and Nigerian indigenous companies engaged in any form of business, operations or contract in the Nigerian oil and gas industry to note that the relevant laws have demanded their adherence and continued compliance, hence the issuance of this guidelines.
”It is on this note that I express optimism in relation to the realization of the benefits of increased local content which are but not limited to; increased retention, growth in in-country technical capacity. Job creation and employment generation, increased penetration and GDP growth, human capacity development, and many others.
”Whilst we note the need to secure domestic supply chains through strong backward domestic integration which has the potency of protecting economies from imported contagion of both a health and economic variety, we are also mindful of the capacity gap of the Supply side,” Thomas said.
The NAICOM boss expressed his organisations’ commitment to creating an enabling environment that will consistently enhance increased capacity of the Insurance Institutions both financially and technically.