The Nigerian Content Development and Monitoring Board (NCDMB) will soon roll out Regulations that will help deepen the enforcement of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. When finalized, the regulations will be signed off by the Minister of State for Petroleum Resources and will have the force of law.
The Board recently convened a Stakeholders Forum on the Draft Ministerial Regulations in Lagos in a bid to harmonize contributions made by various stakeholders on the documents.
Speaking at the event, the Executive Secretary, NCDMB, Engr. Simbi Wabote stated that the programme was organized in line with Sections 36, 40, 41, 42, 47, 55 and 101 of the Nigerian Content Act which empowers the Minister of Petroleum Resources to make regulations that will foster the development of Nigerian Content.
He explained that the nine draft regulations are tailored to achieve the goal of 70 percent in-country value retention within the next 10 years from the current level of about 30 percent.
According to him, “these regulations are in line with Federal Government’s drive to deepen Local Content practice as demonstrated with the issuance of Executive Orders to guide procurement of goods and services as well engagement of indigenous manpower.”
He stressed that the regulations will provide pragmatic strategies for enforcing sections of the Act as well as protect business concerns from legal tussles.
In his words, “We know that the majority of industry practitioners want to comply with laid down rules but we all know there are some out there scheming to circumvent the rules and carry out sharp practices against the government, the people and business competitors. We will stop these set of people on their tracks and bring down the full weight of the law as required.”
In his comments, the Group General Manager, National Petroleum Investment Management Services (NAPIMS), Mr. Roland Ewubare promised support for the implementation of the Ministerial Regulations. He posited that most Nigerians only began to derive real value from the oil and gas sector when the Nigerian Content Act came into effect in 2010.
Throwing his weight behind the Board’s implementation of the Act, the GGM said,” I need to make it clear that there is alignment between NAPIMs and NCDMB. So there is no opportunity for potential violators to play divide and rule game on this.”
Key industry stakeholders including the Petroleum Contactors Trade Section (PCTS), Oil Producers Trade Section (OPTS) and Oil and Gas Trainers Association (OGTAN) also promised to support full implementation of the guidelines when signed off.
In her welcome remarks, the Coordinator, Legal Services, NCDMB, Mrs. Rose Chukwuonwe explained that the event was organised to “give relevant stakeholders the opportunity to air their views, canvass their opinions and make valuable contributions/inputs that will enrich the regulations.”
The Board and its consultants are expected to collate and incorporate relevant inputs by stakeholders before presenting the regulations to the Minister for sign off.
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