Emmanuel Addeh
Seven Nigerian Content Ministerial Regulations have been approved and gazetted, making them legislations that can be implemented by the Nigerian Content Development and Monitoring Board (NCDMB), the board has said.
Executive Secretary of the NCDMB, Mr. Simbi Wabote, disclosed this at a colloquium organised by the board in collaboration with the Nigerian Bar Association’s Section on Business Law (NBA-SBL), with the theme “Nigerian Oil and Gas Industry Content Development (NOGICD) Act-Strides, Challenges & Opportunities.”
The executive secretary, who was represented by the Director Legal Services, Mr. Mohammed Umar, stated that the Minister of State for Petroleum Resources, Chief Timipre Sylva approved the guidelines, and became effective on April 2, 2021.
He listed the guidelines to include Research & Development, (R & D); Training, Capacity Development; Growth of Indigenous Capacity as well as Nigerian Oil and Gas Industry Enforcement and Compliance Regulation.
Others include Registration of Operators and other professionals with Nigerian professional bodies, Technology Transfer and Establishment of operations in Nigeria.
The board noted that Sections 36, 40, 41, 42, 47, 55 and 101 of the NOGICD Act empowers the minister of petroleum resources to make regulations that will foster the development of Nigerian content.
“The board held several engagements with diverse spectrum of the oil and gas industry stakeholders before finalising the regulations and transmitting it to the minister for ratification,” Wabote stated.
He said the compliance and enforcement regulation was intended to ensure compliance with the NOGICD Act and other regulations and give effect to section 68 of the Act in ensuring efficient and accountable promotion of local content in the diverse sectors of the oil and gas industry in Nigeria.
The ES stated that the regulations had divided offences punishable under section 68 of the Act into two categories, adding that the first category comprises the major offences which can lead to criminal prosecution while the other offences would be treated with administrative sanctions.
“As we journey towards the 70 per cent Nigerian content level target, we will continue to utilise industry platforms and fora like this to connect with our stakeholders to provide clarity on our mandate and ways to address any constraints of the industry,” he noted.
Wabote assured that the board will continue to collaborate with the NBA Section on Business Law to drive and unleash an array of opportunities for the oil and gas industry.
“In our pursuit of Nigerian content, the board will continue the implementation of the 10-year strategic roadmap; Foster relevant collaboration and strategic alliances with relevant stakeholders including sister agencies.
“It will deepen Nigerian content in the oil and gas industry and continue to advocate and support domiciliation of value addition in-country,” he said.
In his comments, the Chairman, NBA-SBL, Ayuli Jemide, lauded the board for the collaboration and support in engaging the association to deepen the pace of Nigerian content implementation in Nigeria.
