The Nigerian Content Development And Monitoring Board (NCDMB) yesterday disclosed that local content in the oil and gas sector grew from 26 per cent to 54 per cent in the last five years, representing 107%.
Speaking during the opening of the 2023 edition of the annual Nigerian Oil And Gas (NOG) Energy Week in Abuja, the Chief Executive of the NCDMB, Mr Simbi Wabote, noted that between 2017 and 2022 Nigerian companies’ participation in the industry rose from 26 per cent to 54 per cent.
Wabote stated that the organisation has given effect to the provisions of the law establishing it, by launching the 10-year strategic roadmap in 2018 to drive the attainment of 70 per cent Nigerian content in the Nigerian oil and gas industry by 2027.
“In the last five years of implementation of the strategic roadmap, the board has more than doubled the level of Nigerian content in the industry by moving the needle from 26 per cent in 2017 to 54 per cent in 2022,” the executive secretary noted.
According to him, another key function of the board as stated in Section 70(d) mandates the board to supervise, coordinate, administer, and monitor the development of Nigerian content as specified in the Schedule to the Act.
He further reminded operators that it was important to get the Nigerian Content Compliance Certificate (NCCC) signed off for every contract awarded by the operators.
“I therefore implore all operators to ensure that the NCCC is signed off with the board to avoid delays in getting related approvals or getting sanctioned for implementing contracts without the required regulatory certification,” he stated.
Wabote disclosed at the end of June 2023, the NCDMB had 290,000 individual records, 10,400 service company records, 107 operator company records, and about 600 Marine Vessel records contained on the board’s Joint Qualification System (JQS) portal.