NCDMB Seeks Content Devt Fund’s Exclusion From Revenue Deductions

The Nigerian Content Development and Monitoring Board (NCDMB), has highlighted ongoing efforts to develop a robust oil and gas industry that will further promote local content and address skill gaps in the industry.

The board said this would be accelerated with strong infrastructure backing and legislative reforms and also by excluding the Nigerian Content Development Fund from revenue deductions in line with Section 104 of the NOGICD Act.

The NCDMB further provided an update on its ongoing project plans when the Senate Committee on Local Content came visiting on assessment tour.

In his presentation on NCDMB Activities, during the visit, the executive secretary, Engr. Felix Omatsola Ogbe provided critically important facts on the NOGICD Act, Nigerian Content Implementation Framework, NCDMB Organisation Structure, NCDMB Office Locations, Expenditure and Revenue Analysis, Business Enabler Footprint, Summary of Investments, Success Stories, Look Ahead – Retooling for Stability and Growth, and Support Required.

Speaking on the Nigerian Content Implementation Framework, he highlighted Guidelines and Regulations, drawing attention to policies and tools, which included Nigerian Oil and Gas Industry Content Joint Qualifications System (NOGIC JQS), Nigerian Content Development Fund (NCDF), industry collaboration, as well as gap analysis, among other things.

The ES, who was represented by the director of Corporate Affairs, Alhaji Abdulmalik Halilu disclosed that the Board has recorded success in the Nigerian Content Intervention Fund (NCIF) managed by the Bank of Industry (BOI) with over 90 per cent repayment.

Halilu highlighted some recent striking accomplishments of the Board as facilitating of 10,000 metric tonnes (MT) capacity galvanising plant, commissioned at Daewoo Yard, Port Harcourt, which has ramped up local galvanizing capacity to over 180,000MT; NEDO 300MMscfd Kwale Gas Gathering Plant, Delta State.

NCDMB Nigerian Oil and Gas Parks Scheme (NOGaPS) at Emeyal 1, Bayelsa State, and Odukpani, Cross River State, which are at 90 per cent completion level;10 megawatt Power Plant, and EGINA floating production storage and offloading (FPSO) integration facility, the first and largest in Africa.

Speaking on the next phase, Halilu highlighted the Board’s ongoing construction of the NCDMB Gas Hub for gas-based industries and the work on its eight industrial parks across the country as well as the human capacity development programme christened Back-to-the-Creeks Initiative.

He asked the legislators to support the Board by excluding the Nigerian Content Development Fund from revenue deductions in line with Section 104 of the NOGICD Act. The Board would also want the challenge of infrastructure to be addressed as well as a strengthening of local content laws by ensuring that legislations for the growth of other sectors are properly aligned with local content philosophy.

He asked the legislators to support the Board by excluding of the Nigerian Content

Development Fund from revenue deductions in line with Section 104 of the NOGICD Act.

The board would also want the challenge of infrastructure to be addressed as well as a strengthening of local content laws by ensuring that legislations for the growth of other sectors are properly aligned with local content philosophy.

The chairman of the Committee, Senator Joel Onowakpo Thomas who spoke after an oversight visit on the Board facilities and projects sites within Bayelsa State commended the Board for how it has implemented its enabling statute, the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.

He said, NCDMB has demonstrated the requisite capacity for actualisation of the objectives of the Act, and that the enabling environment for oil and gas industry operations, growth of indigenous businesses, job creation and development of industry-related skills, would be vigorously pursued by the Committee at the National Assembly.

The chairman reaffirmed President Bola Tinubu’s commitment to growing local capacity in the oil and gas and other sectors as a sure way of creating employment.

He said, “ let me say that the benefits of local content cannot be overemphasised. It will lead to the creation of jobs for our people, development of critical assets and skills , growth of local businesses, improved balance of payments and reduction of dependence on foreign goods services.

“To achieve these benefits, collaborations between the Senate committee and board of the NCDMB is essential as we would work closely with the NCDMB to ensure that the provisions of the Act are implemented effectively.”

Also, the Committee vice chairman, Senator Ede Dafinone, assured that the National Assembly would collaborate with the NCDMB to enthrone a resilient and Nigerian-driven oil and gas industry.

According to him, “They have shared with us areas where the Senate can help expand and strengthen their programmes. We are ready to engage further and support the Board in building a more robust and Nigerianised oil and gas industry.”

Other members of the Senate Committee on the oversight visit were Senators Osita Izunaso, Ipalibo Gogo Banigo, Ireti Heebah Kingibe, Aniekan Bassey, Eze Kenneth Emeka, Ezra Okechukwu, Isa Shu’aibu Lau, Tony Nwoye, John Williams Eno, Amos Yohana, and Ezra Okehukwu.