NCDMB threatens to exclude companies lacking project execution capacity from local content plan

The Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Engr Felix Ogbe, yesterday said entities acting solely as intermediaries, with no demonstrable capacity to execute any project or activity, would be excluded from the Nigerian local content plan. Ogbe said this at the Nigerian Oil and Gas (NOG) Energy Week 2024 in Abuja […]

The Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), Engr Felix Ogbe, yesterday said entities acting solely as intermediaries, with no demonstrable capacity to execute any project or activity, would be excluded from the Nigerian local content plan.

Ogbe said this at the Nigerian Oil and Gas (NOG) Energy Week 2024 in Abuja with the theme, “Showcasing opportunities, driving investment and meeting energy demand.”

He said the move became imperative following the earlier directive by President Bola Tinubu to encourage local content agenda and protect their rights while developing the sector to harness its full potential.

Speaking on the development, Ogbe said the board has designated five focal areas for implementing the Presidential Directive.

The areas, Ogbe said, include promoting the utilisation and growth of in-country capacities.

To achieve this, he said the board would leverage existing processes to assess and verify the capacity of companies, facilitate and carry out in-country capacity audits in collaboration with all relevant stakeholders.

He also explained that the board will be enhancing the cost competitiveness of oil and gas projects. This area, he added, will include allocating permission to operators to source capacities out-of-country only after in-country capacity gaps have been identified.