The Senate Lauds Screes of local content of NCDMB, is committed to Legislat …- Theconclaveng

The Senate Committee for local content, during a supervision visit to the Nigerian Content Development and Monitoring Board (NCDMB) structures in the State of Bayelsa, praised the Board of Directors for its solid implementation of the Nigerian Oil and Gas Industry Development (Nogicd) law of 2010.

The Committee has promised strong legislative support to advance NCDMB initiatives for the development of local skills in the oil and gas sector.

Senator Joel Iowakpo Thomas, the president of the Committee, praised NCDMB’s efforts in promoting the creation of jobs, development of skills and growth of indigenous companies. “The impact of the local content is transformative: occupation of the guide, construction of critical skills and reducing dependence on foreign services,” said Thomas.

He assured that the Senate, in line with the vision of President Bola Tinubu for economic self -sufficiency, would have supported policies to strengthen the development of the local content.

“We will collaborate closely with NCDMB to ensure that the law is actually applied and we will work with the interested parties to create a favorable environment for local businesses,” added Thomas.

In a complete briefing, ENGR. Felix Omtsola Ogbe, executive secretary of the NCDMB, represented by the director of business affairs Alhaji Abdulmalik Halilu, highlighted the results of the Council. These include a 90% reimbursement rate for the Nigerian content intervention fund (NCIF) managed by the industry bank and the commissioning of a 10,000 metric tons of tons of tons in Port Harcourt, increasing the local capacity to over 180,000 tons.

The scheme of oil parks and Nigerian gas (Nogaps) of Bayelsa and Cross River is also the completion of 90%.

Halilu has outlined future projects, including the NCDMB Gas Hub for gas-based industries and the back-to-the-circa-toeks initiative for the development of the workforce.

He appealed to support the Senate to exempt the Nigerian content development fund by the deductions of revenue, as imposed by section 104 of the Nogicd law and to deal with infrastructure gaps aligning other sectoral laws with local content objectives.

Senator Ede Dafinone, vice -president of the Committee, reiterated the commitment of the National Assembly to collaborate with NCDMB to build an oil industry and the Nigerian -led gas.

“We will support the programs of the Board of Directors to guarantee a stronger and more inclusive sector,” he said.
The supervision team, including the Senators Osita Izunaso, Ipalibo Gogo Banigo, Aniekan Bassey and others, concluded their visit on Thursday.

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