Board Restates Commitment To Deepening Local Content

Nigerian Content Development and Monitoring Board (NCDMB) has restated its commitment to deepening local content through certification, compliance and financial support.

NCDMB executive secretary, Engr. Felix Ogbe, disclosed this yesterday in Port Harcourt while speaking at a stakeholders sensitisation and engagement forum, which was organised in collaboration with the Bank of Industry and the Nigerian Export-Import Bank.

Ogbe, who was represented by the director, Finance and Personnel Management, Osa Uchendu, announced the introduction of a new Nigerian Content Fund Clearance Certificate (NCFCC), describing the certificate as a verifiable and transparent instrument that serves as tangible proof of compliance by relating companies.

“Today’s gathering goes beyond being a sensitisation programme. It is an open conversation between us as stakeholders. It provides us an opportunity to listen, to present and address critical issues and present better clarity on the interventions and benefits of the Nigerian Content Intervention Fund.

“Over the years, the Nigerian Content Development and Monitoring Board has remained steadfast in promoting and ensuring that the Nigerian oil and gas intervention funds are taken good care of.

However, we understand that for compliance to be truly ready, it must be practical and mutually beneficial to all participants in the industry. In line with this, we are introducing the Nigerian Content Fund Clearance Certificate (NCFCC), a verifiable and transparent instrument that serves as tangible prove of compliance by relating companies.

“This innovation reinforces our shared commitment to accountability and trust in the implementation of local content across the oil and gas value chain. Beyond compliance, we also recognize the pivotal role of financing in different local contents,” he said.

Speaking at the event, Dr Ifeoma Uzokpala, Executive Director, Large Enterprises, Bank of Industry, said the stakeholders’ engagement reflects the three organisations’ vision and shared commitment to strengthening Nigeria’s oil and gas value chain.

Uzokpala said: “This stakeholders engagement is important and we realised that the dialogue will help us deepen our understanding better on how to service the oil and gas industry and make the best of it for Nigeria and the world.

“The gathering reflects our vision and shared commitment to strengthen Nigeria’s oil and gas value chain by not only providing finances, but also deepening engagements with our customers and partners.”

On his part, the head of Specialised Business Development at the Nigeria Export-Import Bank, Mohammed Awami, said the event provides a vital platform for dialogue and shared commitment towards advancing Nigeria’s industrial growth and economic diversification agenda.

“This forum represents a vital platform for dialogue and shared commitment towards advancing Nigeria’s industrial growth and economic diversification agenda.

“At NEXIM Bank, we recognize the pivotal role NCDMB chose to play in driving local content development, building indigenous capacities and promoting value addition within Nigeria’s oil and gas sector and linkages to other activities,” Awami said.