The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled seven ministerial regulations that will provide a proper framework for monitoring the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The regulations were approved by the minister of State for Petroleum Resources, Mr. Timipre Sylva in April 2021 and were publicly unveiled at the Nigerian Content Seminar held at the recently concluded 2022 Nigerian Oil and Gas Conference in Abuja.
The executive secretary of the NCDMB, Engr. Simbi Kesiye Wabote explained that the regulations were made in line with section 40 of the NOGICD Act, which empowers the minister to make them with a view to establishing the minimum standards in facilities, personnel, and technology for training in the oil and gas industry.
He noted that the regulation on Training in the Nigerian Oil and Gas Industry provides for “the minimum standards, facilities, personnel, and technology for training in the oil and gas industry and modalities for involving operators and service providers as partner, while the Regulation for the Further Growth of Indigenous Capacity sets out targets to ensure full utilization and steady growth of indigenous companies engaged in exploration, seismic data processing, reservoir studies and other facilities.”
He added that the regulation for the Further Growth of Indigenous Capacity reinforces the principle of First Consideration for Nigerian-made goods and services and details compliance waiver management and the deployment of Capacity Development Initiatives (CDI’s) as a tool for the growth of indigenous capacity.
He also explained that the third Regulation which borders on the Registration of Oil and Gas Professionals with Nigerian Professional Bodies stipulates the requirements for any operator or company or professional employee.
Similarly, he explained that the Regulation for the Establishment of Operations in Nigeria 2021 requires an operator to set up facilities or other operations within Nigeria for the purposes of carrying out any services otherwise imported into Nigeria.
This particular regulation, he said, “is meant to fully involve the operators in the eradication importation of goods by jointly developing CDI’s to close identified gaps and stipulates the procedure for securing tax and other fiscal incentives for compliant operators.”
The executive secretary further explained that the Regulation for Nigerian Oil and Gas Industry Technology Transfer promotes the development of technology in the Nigerian oil and gas industry through the transfer of technology to Nigeria and to establish guidelines, standard and methods for such technology transfer.
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