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Nigerian Content Development: Chevron’s Accomplishments and Commitment

As Nigeria progresses in its quest to acquire oil and gas technology and build indigenous capacity to service the oil and gas industry, International Oil Companies (IOCs) and other companies are expected to play an active role in Nigerian Content Development (NCD) in the industry.

NLNG submits Train-7 Project NC Compliance requirements to NCDMB

… as Wabote harps on Train-7 FID as directed by Sylva

UGO AMADI

A team from the Nigerian LNG (NLNG) led by the Managing Director, Mr. Tony Attah met with the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engineer Simbi Wabote to formally submit the outcome of its recently concluded commercial evaluation exercise of the multi-billion dollars Train-7 project.

NCDMB to block debtor firms from new projects

Operating and service oil and gas companies that default in remitting one percent of the value of their contracts to the Nigerian Content Development Fund (NCDF) would henceforth be blocked from participating in the industry tendering processes by the Nigerian Content Development and Monitoring Board (NCDMB). Such non-compliant companies would also be suspended from getting statutory clearances such as the processing of Expatriate Quota applications.

The Executive Secretary NCDMB, Engr. Simbi Wabote stated this at the just concluded 2019 Nigerian Oil and Gas Conference in Abuja and added that the Board also ”reserved the right to refer such economic sabotage to the Economic & Financial Crimes Commission (EFCC) for further action in line with our Service Level Agreement.”

He explained that the remittance of one percent of the value of contracts awarded in the upstream section of the oil and gas industry was mandatory under Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD Act). He regretted however that many companies continued to contravene this provision of the Act, some through non-deduction of the statutory fee, non-remittance of amount deducted at source and mis-interpretation of the applicability of the provisions.

He added that the level of infractions by some firms had been revealed with the deployment of the NCDF Remittance Forensic Audit in November 2018, using third party chartered accounting firms.

Wabote commended operating and service oil companies that have owned up to their indebtedness and have started addressing their infractions, adding that ”a greater commendation goes to those who diligently make their remittances accurately without any compulsion form the Board.”

He confirmed that the Board would be willing to discuss with debtor companies on implementing structured payment plans, but would not entertain pleas to write off any indebtedness.

Wabote gave an account of the utilisation of the NCDF, noting that ”with this Fund, we have been able to support investments and collaborate with industry stakeholders with the roll-out of the $200m Nigerian Content Intervention Fund (NCI Fund), partnership with project promoters in the establishment of modular refineries, and exited appropriation to become a self-funding agency of government.”

He added that the NCDF has also enabled the Board to progress the construction of its new headquarters building in Yenagoa, Bayelsa State and industrial parks, provide support for Project-100 beneficiaries, fund Human Capacity Development programs and deliver other activities.

The Executive Secretary confirmed that NCDMB had so far disbursed US$160m out of the US$200m NCI Fund as loans to oil companies for the development of capacity, among others. He said the NCI Fund managed by the Bank of Industry has been very successful. “Today we probably have about $40m left because $160m has been accessed by Nigerian companies to build capacity.”

Providing updates on other programmes of the Board, Wabote said NCDMB will progress the establishment of a research and innovation hub in its headquarters building and launch the $50 Million Nigerian Content Research Fund. According to him, ”our go-forward plan include the launch of an online integrated research portal for receiving, processing and monitoring R&D projects to further drive visibility and industry compliance with the provisions of the Act. It will also serve as a tool for communicating R&D achievements in the oil and gas industry.”

For a better society

Seplat wins NCDMB’s award for impactful local content initiatives

UGO AMADI

Seplat Petroleum Development Company Plc has emerged as the Nigerian Content Development and Monitoring Board’s (NCDMB) most impactful independent upstream operating company for its local content initiatives at the Nigeria Oil and Gas Opportunity Fair (NOGOF) held at the new NCDMB headquarters in Yenagoa, Bayelsa State.

Kachikwu reveals FG next plan for petroleum resources

UGO AMADI

The Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru led other industry leaders to commend the Nigerian Content Development and Monitoring Board (NCDMB) for the numerous achievements recorded in the implementation of Nigerian Content in the oil and gas industry.

…We‘ve recorded 98%performance with SLAs-Wabote

UGO AMADI

The Nigerian Content Development and Monitoring Board (NCDMB) and the Indigenous Petroleum Producers Group (IPPG)have signed a Service Level Agreement (SLA), which would drive local content implementation and simplify the procurement and tendering processes for oil and gas projects.

Content Board lauds Dangote Refinery on local content

…Expresses readiness for partnership

Nigerian Content Development and Monitoring Board (NCDMB) has praised the management of Dangote Petroleum Refinery and Petrochemical Free Trade Zone Enterprises (DPRP) over its adherence to the local content law in the execution of its projects and declared its intention to further partner with it for effective implementation of the Local Content policy in the country.

BGAM Services acquires security vessel

UGO AMADI

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has commissioned a new security vessel,MV Tamuno-Dein II, acquired by BGAM Services Limited, the first oil and gas company to access the Nigerian Content Intervention Fund (NCI Fund).

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