By Sebastine Obasi
ALL new projects must comply with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, the Executive Secretary of Nigerian Content Development and Monitoring Board, NCDMB, Mr. Simbi Wabote, has advised companies operating in the oil and gas industry.
Wabote, who stated this during his visit to international oil companies, IOCs, in Lagos, also charged the operating companies to ensure that their contractors and sub-contractors remit one percent of their contract value to the Nigerian Content Development Fund (NCDF) as required by law.
At a visit to Chevron, Total Upstream and Shell in company of top management of the Board, Wabote confirmed that NCDMB had adopted mechanisms that accelerate processing time for Nigerian Content plans, technical and commercial evaluation and issuance of Nigerian Content certificates. He charged other entities involved in the contracting cycle to adopt similar strategies to enable the sector achieve the six months contract processing target set by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu.
Wabote also expressed the Board’s readiness to partner with various stakeholders in resolving challenges they might have executing their projects.