The Nigerian Content Development and Monitoring Board (NCDMB) received commendation from the Senate Committee on Local Content during an oversight visit to the Board’s facilities in Bayelsa State on Thursday. The Committee assured continued legislative backing to advance local content initiatives within Nigeria’s oil and gas sector.
Senator Joel Onowakpo Thomas, Chairman of the Committee, praised the Board for effectively implementing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010. He emphasized the critical role of local content in job creation, skills development, and boosting indigenous businesses.
“The benefits of local content cannot be overemphasized. It will lead to job creation, development of critical assets and skills, growth of local businesses, improved balance of payments, and reduced dependence on foreign goods and services,” Onowakpo said.
He reaffirmed President Bola Tinubu’s commitment to growing local capacity, stating, “To achieve these benefits, collaborations between the Senate committee and NCDMB are essential. We will work closely to ensure effective implementation of the Act.”
Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, presented the Board’s achievements including the ramped-up galvanizing capacity in Port Harcourt, the 300MMscfd Kwale Gas Gathering Plant, and the ongoing construction of eight industrial parks nationwide.
Alhaji Abdulmalik Halilu, Director of Corporate Affairs, highlighted the Board’s success with the Nigerian Content Intervention Fund, which has a repayment rate exceeding ninety percent, and called for legislative support to exclude the Fund from revenue deductions as stipulated in Section 104 of the NOGICD Act.
Senator Ede Dafinone, Vice Chairman of the Committee, echoed the Senate’s readiness to collaborate closely with the NCDMB to build a resilient Nigerian-driven oil and gas industry.
“The Senate is prepared to support the Board in building a more robust and Nigerianised oil and gas industry,” Dafinone stated.
The oversight team included Senators Osita Izunaso, Ipalibo Gogo Banigo, Ireti Heebah Kingibe, Aniekan Bassey, and others.
The visit reaffirmed the Senate’s commitment to creating an enabling environment that fosters local business growth and employment through strengthened local content laws and infrastructural improvements.
