Local Content

Local oil firms require collaboration to blossom – Nestoil

Jan 30, 2019

Nestoil Limited has proffered ways to transform local oil companies in the country into regional powerhouses capable of developing the economies of the West African region to the whole of Africa. The Group Managing Director of the firm, Dr. Ernest Azudialu-Obiejesi, said collaboration among the oil companies will open them up to a lot of…

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Power sector operators to lose licence for violating local content policy – NERC

Jan 30, 2019

Nigerian Electricity Regulatory Commission (NERC) has threatened to withdraw the licences of operators in the Nigerian Electricity Supply Industries (NESI), who prefer foreign materials and services to locally-fabricated equipment in their operations. Speaking at a two-day Stakeholders Workshop on Minimum Specification of Nigerian Content and Requirement for Labour in the Power Sector and Exhibition of…

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Nigeria’s power sector over dependent on imported equipment, skills – Fashola

Jan 26, 2019

The minister of Power, Works and Housing, Mr Babatunde Fashola, has said the Nigerian power sector is heavily dependent on imported human resources, materials, equipment and services making it vulnerable to foreign exchange fluctuations. Fashola, who spoke, yesterday, at a workshop on the ‘Regulation on National Content Development for the Power Sector 2014’ in Abuja,…

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NCDMB, PETAN call for better collaboration in Nigeria’s oil, gas sector

Jan 25, 2019

Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has called for better collaboration among players in the Nigerian oil and gas industry.He also canvassed similar measures among indigenous oil companies and at the regional level, as a means of sustaining the industry in the sub-Saharan Africa. Wabote made the call at the…

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Samsung says it has invested $400m in Nigeria’s oil, gas sector

Jan 23, 2019

Global shipbuilding giant, Samsung Heavy Industries (SHI) has committed over $400 million as tax revenue and investment in Nigeria’s oil and gas sector since the company was awarded the contract to build the Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels of crude oil per day Egina deepwater field. The company contributed $100…

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Nigeria’s maritime industry spent $3.047bn on marine vessels in 4 years – NCDMB

Jan 21, 2019

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has called on stakeholders in the maritime industry to take advantage of the opportunities in the sector, saying the amount operators spent on marine vessels was $3.047 billion (N1.096 trillion) over the period 2014-2018. Speaking at the 4th All Nigerian Ship…

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Samsung eyes future opportunities in Nigeria following Egina FPSO project

Jan 8, 2019

With the successful completion of the Egina Floating Production Storage Offloading (FPSO) unit and the achievement of First Oil in the facility, Samsung Heavy Industries, together with partners, could be justified in spending time looking back with pride. According to a statement by the company at the weekend, the completion of the largest floating oil…

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Nigeria is the only producer of high-voltage cables in West Africa – Coleman MD

Dec 28, 2018

In the whole of West Africa, Nigeria is the only producer of high-voltage cables and the sixth country to adopt the technology in the Africa. The Managing Director, Coleman Wires and Cables Limited, George Onafowokan, said this in an interview on Wednesday. He attributed its growth in the sector to many factors, including: strategic planning,…

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NCDMB to support Benin Industrial Park project

Dec 25, 2018

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, has thrown his weight behind the Benin Industrial and Enterprise Park (BIEP). He said the agency was concluding arrangements on investments from oil and gas firms to be hosted at the Park. He made this known when Governor Godwin Obaseki…

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NCDMB releases list of profitable vessels for Nigerian shipowners

Dec 16, 2018

The Nigerian Content Development and Monitoring Board has identified the types of vessels that local operators in the shipping business should purchase that can guarantee good business and return on investment. The Executive Secretary, NCDMB, Simbi Wabote, stated this in Lagos on Tuesday, during the Shipowners Association of Nigeria’s annual workshop and dinner. Speaking at…

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