… moves to expanding content bill to cover electricity, ICT, other key sectors
The Chairman of the House Committee on Nigerian Content Development and Monitoring, Hon. Boma Goodhead has assured that the House of Representatives Committee on Nigerian Content Development and Monitoring is ever commitment to advancing the Nigerian Content Development and Enforcement Bill (the ‘NCDE Bill’ to Repeal and Re-enact the Nigerian Oil and Gas Industry Content Act, submitted to the House on December 18, 2019, and currently under review by the National Assembly.
She disclosed this in her keynote address at the 2024 Practical Nigerian Content Programme, organised by the Nigerian Content Development and Management Board (NCDMB) on Tuesday, in Bayelsa State.
Speaking on the theme “Defining the Next Frontier for Nigerian Content Implementation” at the 2024 Practical Nigerian Content Programme, Hon. Goodhead, affirmed the House of Representative’s commitment to transforming Nigeria’s economy into a diversified, innovative, and sustainable powerhouse for the benefit of all citizens.
She highlighted the HoR’s efforts to strengthen the legislative framework governing Nigerian content in the oil and gas sector, emphasizing the transformative goals of the pending Bill to Repeal and Re-enact the Nigerian Oil and Gas Industry Content Act.
According to her, the Bill aims to not only promote Nigerian content but also enhance the ease of doing business in the sector by incorporating provisions from the Presidential Directives on contract timelines, approvals, and deemed approvals.
Hon. Goodhead stressed the need for external expertise to complement growing local capacities and technologies in sustaining the petroleum industry.
She revealed that the Bill discourages the role of middlemen who add no value to the industry’s value chain and seeks to criminalize “fronting” practices.
She further explained that the Bill prioritizes “Technology Domiciliation and Domestication,” ensuring technology is brought into Nigeria, resides locally, and becomes part of the country’s knowledge assets.
This, she said, would enhance the capacity of the indigenous workforce and bolster the industry’s technological base.
Hon. Goodhead praised the NCDMB for its initiative in establishing oil and gas parks to attract investments into the industry.
She noted that while the current NOGIC Act does not expressly provide for such parks, the proposed Bill before the National Assembly includes provisions for establishing Integrated Oil and Gas Industry Parks.
“These parks will feature international-standard infrastructure and offer fiscal and non-fiscal incentives to attract operators, particularly Original Equipment Manufacturers (OEMs), to invest in the manufacturing sub-sector using locally sourced raw materials,” she said.
Hon. Goodhead further underscored the importance of utilizing locally sourced raw materials, emphasizing that their non-use denies the country significant benefits, including job creation, research and development, and increased value retention.
She assured that the Bill includes provisions mandating the use of locally sourced materials, provided they meet acceptable industry standards as certified by relevant bodies.
She also stressed the need to reduce tolerance for rebranded or recycled goods, stating, “Such goods cannot truly be termed made-in-Nigeria and should not attract scarce government incentives.”
The Chairman of the House Committee on Nigerian Content Development and Monitoring also highlighted “Financing” as a critical “New Frontier” for advancing Nigerian content in the oil and gas sector, noting challenges such as equipment financing, intellectual property licensing, and delayed payments for completed jobs.
She assured that the pending Bill before the National Assembly addresses these issues, which have hindered the growth of indigenous businesses in the industry.
She commended the Nigerian Content Development and Monitoring Board (NCDMB) under its current leadership, describing its achievements in Nigerian content development as exemplary.
“The Board has become a Gold Standard,” she remarked, expressing confidence in its capacity to propel Nigerian Content to the next frontier.
Hon. Goodhead revealed that another Bill is before the National Assembly to extend the Board’s gains to other key sectors, including agriculture, solid minerals, ICT, health, power, construction, maritime, the blue economy, and textiles.
“Nigeria shall always remain grateful to God for the provision of this Board,” she noted.
She urged stakeholders to leverage the NCDMB platform for impactful partnerships and actionable strategies.
“We must focus on overcoming barriers to our goals, from closing talent gaps in emerging fields to ensuring our standards meet global benchmarks.
“Every exchanged idea must translate into actionable policies and measurable outcomes that benefit all Nigerians,” she emphasized.
Describing the 2024 Practical Nigerian Content Programme as an opportunity to reaffirm the nation’s commitment to advancing local content, Hon. Goodhead stressed its role in shaping Nigeria’s economic development.
“Nigeria is presented with a profound opportunity to chart its future, increase petroleum output, meet OPEC-assigned quotas, and produce petroleum at internationally competitive costs,” she concluded.
