The Nigerian Content Development and Monitoring Board (NCDMB) has earmarked N15 billion funding for Contractors Financing Scheme as it scaled up single obligor limit for the initiative from N20 million to N100 million.
According to the board the initiative addresses a critical challenge faced by local contractors’ limited access to funding for contracts awarded by oil and gas companies.
Executive Secretary of the NCDMB, Engineer Felix Omatsola Ogbe, who declared this at the opening of the Practical Nigerian Content (PNC) 2024 Forum in Yenagoa on Tuesday, promised efforts to increase the ‘spirit of collaboration and resilience that has brought us this far.’
Already, the Nigerian Content Development indices, Ogbe said, has increased from “26% in 2016 to 56% by 2024.”
While listing key achievements of the board, Ogbe said; “Our enabling law, the Nigeria Oil and Gas Industry Content Development (NOGICD) Act, 2010, charges the Board with a clear mandate: to build the capacity of Nigerian companies and individuals to actively participate in the oil and gas industry. To fulfil this mandate, in 2017, the Board launched the 10-Year Strategic Roadmap, which is built on 5 Strategic pillars and supported by 4 Enablement.
“I will highlight some milestones achieved in the last 7 years and unveil new initiatives that will take us closer to our 2027 target.
“Some of our achievements include: Commissioning of Amal Technologies in Idu, Abuja; and the Kwale Gas Gathering facility in Delta State
“Approval of 312 Nigerian Content Plans were approved, and 402 Nigerian Content Compliance Certificates (NCCCs) were issued. Due to our new PCAD contracting guidelines which has reduced our touchpoints from 9 to 5, the contracting cycle has been reduced to six-months.”
On strategic partnerships, the NCDMB boss listed feats to include; “Unveiling of Bell Oil and Gas’ 50,000 metric-ton integrated Oil Country Tubular Goods (OCTG) facility at the Lekki Free Trade Zone. Commissioning of 10,000 MT capacity galvanizing plant by Daewoo. Establishment of the Nigeria Oil and Gas Park Scheme (NOGaPS) in Bayelsa, Cross River, and Akwa Ibom states. In partnership with NedoGas, commissioning of a 300 MMSCFD gas gathering and injection facility in Kwale, Delta State. In partnership with Butane Energy, commissioning of a 180-metric-tonne LPG filling plant in Kaduna, and a 100-metric-tonne LPG storage and bottling plant in Katsina State.”
For HCD initiative, he continued, “we have initiated cadetship training for 63 cadets on foreign-going vessels. In partnership with Shell and PETAN, launched an internship Program, which trained 49 graduate engineers, geologists, and geoscientists. Commenced the NLNG Train 7 Project Nigerian Content Human Capital Development (NC-HCD) Basic Training for 331 Nigerians. At the Federal University of Owerri (FUTO) in Imo State, we completed and commissioned an Engineering Design Studio and Information Hub in collaboration with NLNG.
“Similarly, we completed and commissioned an E-Library at the Niger Delta University in Amassoma, Bayelsa State, in partnership with SPDC and its JV partners.
“Distinguished ladies and gentlemen, I am excited to announce to you that our Nigerian Content level has increased from 26% in 2016 to 56% by 2024.”
Speaking on the ‘Back to the Creek,’ an initiative that focuses on equipping youths in host communities with the skills needed to meet industry demands, directly supporting the local content drive, Ogbe said that this initiative aligned closely with the mandate of His Excellency, President Bola Ahmed Tinubu, GCFR, to create an enabling environment for businesses to thrive.
This initiative will be implemented in three phases: first, the improvement of primary education infrastructure; next, the enhancement of secondary education; and finally, providing scholarships and facilitating employment opportunities for top-performing students from oil-producing communities.
On the Revised Community Contractors Financing Scheme, an initiative that addresses a critical challenge faced by local contractors’ limited access to funding for contracts awarded by oil and gas companies, Ogbe said that ₦15 billion have been earmarked for this purpose. Also, the single obligor limit has been increased from ₦20 million to ₦100 million.
“In 2024, the Board ranked first in the Presidential Enabling Business Environment Council (PEBEC) ranking. Half-Year Compliance Report. We have been ranked as the number 1 Agency for 3 consecutive times No. 1 agency in the Nigeria Govtech Award and the Distinguished Govtech Trailblazers Award by the Bureau for Public Sector Reform (BPSR).
“As we embark on the next phase of this journey, let us carry forward the spirit of collaboration and resilience that has brought us this far,” he concluded.
