The Nigerian Content Development and Monitoring Board has introduced a new digital platform aimed at making compliance processes in the oil and gas industry faster, more transparent and more efficient.
The Executive Secretary of the NCDMB, Felix Ogbe, unveiled the Nigerian Content Fund Compliance Certificate Portal on Wednesday in Uyo, Akwa Ibom State, during a stakeholders’ sensitisation programme.
Represented by an NCDMB manager, Emmanuel Yusuf, Ogbe said the platform would eliminate many of the delays associated with the previous manual system of processing compliance certificates.
Under the new system, oil and gas companies will be able to submit applications online, monitor their applications electronically and receive updates on their status without having to visit NCDMB offices or rely on physical paperwork.
According to Ogbe, the digital system is expected to reduce certificate processing from several weeks to just a few days. It will also enable regulators to confirm compliance in real time and provide a centralised record that can be accessed by relevant stakeholders.
He said faster certification would help companies that have fulfilled their financial obligations to gain quicker access to funding, while also supporting investment, job creation and development across the Nigerian oil and gas value chain.
Ogbe urged operators, contractors, regulators, investors and other industry participants to actively use the platform, stressing that its effectiveness would depend on widespread adoption.
The NCDMB chief also explained that the Nigerian Content compliance certificate is an important requirement for companies operating in the sector. The Nigerian Oil and Gas Industry Content Development Act requires one per cent of the value of every relevant contract to be deducted at source and paid into the Nigerian Content Development Fund.
The certificate provides evidence that companies have met this obligation and is also important when seeking access to financing from the fund.
The programme, organised with the Bank of Industry and the Nigerian Export-Import Bank, included technical discussions and a panel session involving stakeholders from Akwa Ibom and Cross River states.
The Bank of Industry, through its representative, Olamide Oladele, said it was prepared to provide financing support to indigenous oil and gas businesses following the launch of the portal.
NCDMB said the digital initiative forms part of efforts to modernise its operations and strengthen the competitiveness of Nigeria’s oil and gas industry.
