Local content contributions to oil, gas sector increase to 42% – NCDMB
The impact of local content in the Nigerian oil and gas industry has increased from an average of 5 percent to 42% after the enactment of the NOGICD Act 2010.
Engr. Simbi Wabote, the Executive Secretary of NCDMB made this known during his Keynote Address at the 2022 Local Content Workshop for the Bayelsa State Judiciary held on Wednesday at the NCDMB Conference Center, Yenagoa.
According to him, the local content intervention has created more than 100,000 jobs for citizens.
Wabote emphasized that the only way local content promotion in the Nigerian oil sector can be improved is when “all stakeholders” put their hands on deck to help create jobs for Nigerians and encourage local businesses and players to help develop the country’s economy.
“It is important to state that Nigerian Content is a journey and not a sprint. The support of all stakeholders is required to run the Marathon successfully and to ensure that we change the structure of our economy from import dependency to a manufacturing country that can generate employment for our teeming youth, increase our GDP and grow our revenue base,” he said.
While mentioning the notable achievements of the Board, including the completion and commissioning of the Nigerian Content Tower with a 1000 seater auditorium and multilevel car park in Yenagoa with a 10Mw gas powered plant for the supply of electricity to the NCTower, Engr. Wabote stated that Nigeria presently has the capacity to handle the fabrication of more than 250,000 metric ton per annum of fabrication services in 2022.
The NCDMB boss also revealed that indigenous oil companies currently produce 15% of daily oil output and account for about 60% of domestic gas supply in Nigeria.
Hon. Justice Kate Abiri, CON, Chief Judge of Bayelsa State, in her Presentation titled: “The Role of the Courts in Attaining the Objectives of the NOGICD Act 2010”, stated that the enactment remains one of the greatest feats in the nation’s oil and gas sector.
She affirmed the willingness of the Bayelsa State Judiciary to support the NCDMB and all industry stakeholders to boost participation of indigenous oil firms in the supply chain of the oil sector and also create more jobs for the local workforce through the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.
“It is my firm belief that this workshop will achieve its purpose of public enlightenment. I hereby assure the Board and all other operators of the Oil and Gas Industry of the readiness of the Courts to play its Constitutional role towards attaining the objectives of the NOGICD Act,” she said.
Similarly, Biriyai Dambo (SAN), the Attorney General of Bayelsa State, stated that the state judiciary will give the NCDMB every support that it needs to achieve its goals of promoting local participation in the Nigerian oil and gas sector.
Dr. Amah Ikuru, General Manager, Capacity Building Division of NCDMB, during the workshop, delivered a paper titled: “Capacity Building Initiative – Achievement and Challenges at the Ongoing NCDMB Local Content Workshop for the Bayelsa State Judiciary, 2022” where he encouraged stakeholders to act fast in supporting the Board to ensure that progress is made in the area of capacity building of both human capital and infrastructure.
Listing Materials, Equipment, Finance, Technology and People as some of the areas where capacity building is needed, he noted, “Justice delayed is justice denied so also Nigerian content delayed is injustice.”