Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, yesterday, disclosed that the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act has retained over $8 billion and created 50,000 direct jobs in the past 11 years.

An indigenous oil firm, PE Energy, has begun work on a $30 million plant for domesticated valve assembly and metering integration in Port Harcourt, Rivers State.

President Muhammadu Buhari Monday, in Abuja, signed Executive Order 5 to improve local content in public procurement with science, engineering and technology components. The Executive Order is expected to promote the application of science, technology and innovation towards achieving the nation’s development goals across all sectors of the economy. A statement by Senior Special Assistant…

Government just won a major victory against food importation and food price inflation.  It is a critical battle won with a direct bearing on the budget of all citizens.

The PTDF boss hinted that the selection of the scholars was based on performance in the aptitude test, the oral interviews and classes of degree and chosen programmes for their programmes.

The Group Managing Director of the company, Mr. Godwin Izomor, while briefing the media on the drive for the project, exuded more of a passion for country and profession, than personal economic benefits.  

The Director, Oil and Gas at Standard Bank, Olivier Florentine, emphasised that the way forward for project funding in Africa could be through a wide variety of equity and debt providers.

The Fund, to be administered by Bank of Industry (BOI), will be disbursed on a single digit interest rate of not more than eight per cent within a period of five years to qualified local players in the industry.

"Reacting to the challenging economic realities, which began some years ago, Northern Nigerian Flour Mills in early 2015, temporarily suspended milling of imported Wheat. With the advantage of hindsight, it is clear that this was a perceptive decision."

Ali noted that construction work usually requires huge capital outlay, stressing the need for affirmative action by the government to support local engineers as done in other developed countries.

According to them, Nigerian Local Content Act popularly called “NOGICD Act 2010” was a major change agent for engineering design by increasing the domiciliation of engineering to over 55per cent from 5 per cent.

The order, which was signed by Acting President Yemi Osinbajo on Thursday dwells mostly on the preference for indigenous goods and services as well as the removal of bureaucracies which stall businesses.