The Executive Secretary, Nigerian Content Development and Monitoring Board, (NCDMB), Engr. Simbi Wabote has said the board is focused on raising local content in the oil and gas sector to 70 per cent by 2027 under its strategic 10 years road map.
Wabote, made the disclosure in a keynote address titled, “Economic challenges and prospects: Strategic assessment of local contents, risks and priorities,” he delivered during the 2020 strategists dinner fellowship investiture of the Institute of Strategic Management, Nigeria (ISMN) in Port Harcourt, Rivers State, recently.
The ISMN, during the event admitted 42 new fellows with Honorary fellowship and other awards conferred on some persons, including Wabote.
Wabote said the board, under his watch, had achieved 35 per cent implementation of its Act in the last 10 years, stressing that this was evident in the increased number of local fabrication yards, vessel ownership, in country spend and number of Nigerian oil and gas service companies.
He also listed increased number of indigenous operators and control of expatriate quota as indicators of the achievement.
Wabote enjoined Nigerians to grow local content by ensuring that they increase local production in key sectors of the economy and see local content as business not as corporate social responsibility act.
Chairman of the Rivers state chapter of the ISMN, Sir Davies Okarevu, on his part, thanked the keynote speaker for his thought provoking paper saying it was clear that if the nation emphasized on merit it would bring about the desired growth and development.