Friday, 21st January 2022
<To guardian.ng
Search
Breaking News:

Local Content: Experts harp on NCDMB, partners’ continued collaboration

By CHUKS ISIWU
19 May 2015   |   11:44 pm
Oil industry experts have called for continued collaboration between the Nigerian Content Development Monitoring Board, NCDMB, and Ministry of Petroleum Resources on one hand, and the development partners, including international oil companies, IOCs; original equipment manufacturers, OEMs, and multilateral agencies to achieve increased local content in the Nigerian oil and gas industry.
Mr. Sola Oyinlola

Mr. Sola Oyinlola,

Oil industry experts have called for continued collaboration between the Nigerian Content Development Monitoring Board, NCDMB, and Ministry of Petroleum Resources on one hand, and the development partners, including international oil companies, IOCs; original equipment manufacturers, OEMs, and multilateral agencies to achieve increased local content in the Nigerian oil and gas industry.

They made the call as they discussed the future of Nigeria’s oil and gas; the drive for increased local content and the need to attract foreign investments as well as collaboration and partnerships in the sector at the recent inaugural Nigerian Content Investment Forum, NCIF, in Houston, Texas, United States.

Organised by SweetcrudeReports – Nigeria’s foremost energy publication – in conjunction with partners, Guardian Newspapers and the Nigerian Content Development Monitoring Board, NCDMB, the annual event aims to showcase the gains of the Nigerian Content Act and the opportunities for collaboration, growth and development therein as well as create a sustainable platform for interaction between credible professionals and stakeholders in the oil and gas industry, particularly in Sub-Saharan Africa, USA, Europe, Asia and the Middle East.

Chairman Africa, Schlumberger, Mr. Sola Oyinlola, who chaired the event, highlighted what he termed “deep challenges” that persist in the implementation of the Content Act, including the lack of in-country financial capacity to undertake big ticket transactions; inadequate infrastructure such as the deplorable state of supporting industries, for prototyping, manufacturing or assembling locally engineered solutions; lack of technical capacity, dearth of research and development institutions and culture; and the limited access to technology limiting the possibility of innovation and domestic technological creativity.

Oyinlola maintained that for the Act to achieve its full potentials,these challenges must be addressed through continuing pursuit and commitment by the NCDMB and the Ministry of Petroleum Resources.

“The critical missing link between strategy and action must also be addressed to avoid the persistent incapacitation that public policy initiatives and actions many government programmes and projects have suffered…The NCDMB and the Ministry of Petroleum must collaborate with development partners, including international oil companies, IOCs; original equipment manufacturers, OEMs, and multilateral agencies for overall success of the Nigeria Content Act,” he said.

Also stressing the need for collaboration, Mr. Manssour Jarmakani, the Executive Director, Nigerdock, pointed to his company as an example of the success story of the Nigerian Content policy, saying collaboration between his company and NCDMB was one of the critical factors that made this possible.

His company, he said, was currently handling high-tech projects that were hitherto handled abroad, thereby saving the nation huge foreign exchange and contributing to the growth of the nation.

Other speakers at the event included the former Executive Secretary of the NCDMB, Mr Ernest Nwapa; Brian McCleary, the Senior Officer in charge of the Commercial Section at the US Consulate in Lagos; Linda Anukwuem, Chairperson of the Mayor’s International Trade and Development Council, City of Houston; and Mr. Fubara Anga, Principal Partner, Aelex.

The NCIF 2015 forum included a plenary session and a technical session focusing on Nigeria’s Oil and Gas Park Scheme, NOGaPS; Capacity development within Nigerian Content framework; Nigerian Content Development Fund implementation model; and Legal framework governing company operations.

There was also a panel discussion on the way forward for Nigerian Content, Unlocking opportunities for OEMs through NOGaPS, and fiscal incentives in Nigeria to attract foreign investors.