The Minister of Justice and the Attorney General of the Federation, Mr. Abubakar Malami (SAN) has pledged that the Ministry of Justice would collaborate with the Nigerian Content Development and Monitoring Board (NCDMB) to enforce compliance and prosecute defaulters of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The chief law officer made the commitment when the Executive Secretary of NCDMB, Engr. Simbi Wabote paid him a courtesy visit in Abuja recently.
Earlier in his remarks, the Executive Secretary highlighted the need for in-country value retention in the oil and gas industry and compliance by operating and service companies with the provisions of the NOGICD Act.
He asked staff of the Ministry of Justice to acquire knowledge about the Nigerian Content Act and the operations of the Board. This would enable them interpret matters that might be brought to their attention and support the Board in prosecuting defaulters as stated in the Act.
Wabote reiterated the Board’s eagerness to complete the review of the draft Nigerian Content regulations, which are tailored to achieve 70 percent in-country value retention by 2027 and foster the development of Nigerian Content.
In his response, the Minister commended the Board for the great strides it has accomplished and its contributions to the nation’s economy, particularly for growing Nigerian Content from five per cent before the advent of the Act in 2010, to 28 percent presently. He concurred that a key aspect of the Board’s mandate is the responsibility of carrying out compliance monitoring, hence the need for collaboration to prosecute serial offenders of the Act and achieve compliance by other stakeholders.