Oil industry executives have tasked the Nigeria Content Development Oversight Committee to implement the Nigeria Oil and Gas Industry Content Development Act (2010) to effectively increase production in the sector.
Panelists at a session titled “Exportation of Local Capacity: Maximising Regional Opportunities,” during the Nigeria Oil and Gas Conference in Abuja on Monday said Nigeria is expanding its production capacity in the oil business but the local content act is being implemented as required.
Capacity needs to be maintained and properly utilized before it can be exported.
One of the panelists at the session, Chairman of Nestoil Limited, Ernest Azudiaru-Obiejesi, explained that many African countries are now looking to Nigeria because of the gains Nigeria has recorded in local content. “It is very important that we maintain our production capacity,” he said, adding that the government through the NCDMB should help make this happen.
Azudiaru-Obiejesi said, “Today, people look up to Nigeria and want to learn from the country’s success in the petroleum sector. So, Nigeria is seeing some success in terms of domestic share.”
“So, I think if you want to maintain your production capacity in your country, you need enforceable local share laws, laws that you can enforce. It’s one thing to have laws, it’s another to be able to enforce them, and you have to make sure they work”, he said.
The Nestoil boss said he believes that “what the NCDMB has done is good, but the NCDMB has to continue to enforce these laws so that the Nigerians who have developed these capacities can also receive them,” adding that this will have a positive impact on the sector.
Managing Director of Westfield Energy Resources Limited, Henry Okolie Aboh, also spoke on the issue, saying Nigeria is expanding its capacity in the oil and gas sector.
Earlier, the Executive Director of the NCDMB, Felix Ogbeh, explained that the Nigerian Content Seminar, which was a flagship program of the Nigeria Oil and Gas Energy Week Conference, was organized to engage stakeholders and uncover how the authority was enforcing local content laws.
He said, “As you all know, the NOG Energy Week Conference Nigerian Content Seminar is NOG’s flagship program.
The seminar provides the Board with an opportunity to engage with stakeholders to discuss and share our efforts and activities in achieving our key mission of developing local capacity and capabilities and ensuring compliance with the Nigerian Oil and Gas Industry Content Development Act, 2010.
The seminar is also an excellent platform to provide industry practitioners with clarity, clarification, tips, and guidance on the provisions of the Act, Ministerial Regulations, and NCDMB Guidelines.
“Others include measures and initiatives such as human resource capacity development, Nigerian Content Plan, Nigerian Content Equipment Certification, Foreigner Quota Implementation, Monitoring and Evaluation, Transfer of Nigerian Content Development Fund and Nigerian Content Intervention Fund,” Ogbe further stated.
Recalling that President Bola Tinubu issued a presidential directive on local content compliance requirements earlier this year, it was encouraging to see the Federal Government assessing the local content agenda.
“The Presidential directive is aimed at further enhancing local share in Nigeria’s oil and gas industry while improving competitiveness, reducing the risk of approval of unqualified contractors, improving approval timelines, and creating a supportive business environment in the Nigerian oil and gas industry,” the NCDMB boss explained.
