Local Content

Tender for NLNG Train 7 out in April – NCDMB

Feb 18, 2019

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said the Nigeria Liquefied Natural Gas Limited(NLNG) will issue Invitation to Tender (ITT) for the NLNG Train 7 project in April. In an interview, he said: “Efforts of NCDMB in ensuring that other projects come stream are ongoing. Total is…

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Petrolex restates commitment to local content development

Feb 13, 2019

Indigenous oil & gas company, Petrolex Oil & Gas, has expressed its commitment to Local Content development in Nigeria. This was revealed during its participation at the Nigerian Content Development & Monitoring Board’s yearly conference in Yenagoa, Bayelsa. Speaking on the sideline of the event, the Executive Director of Petrolex, Kayode Adelaja, said: “We are…

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First Bank to continue support for indigenous oil, gas firms – MD

Feb 12, 2019

The Chief Executive Officer of First Bank Nigeria (FBN) Ltd. Adesola Adeduntan said the bank will continue to assist operators in the oil and gas sector with the right financial support needed to efficiently grow the industry. Adeduntan said this at an Energy Finance Forum sponsored by the bank at the recently concluded Nigeria International…

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Nigeria moves to dominate global oil industry with support for 100 indigenous firms

Feb 1, 2019

Sixty-three years after the discovery of oil in commercial quantity, the Federal Government yesterday said Nigeria was poised to play a commanding role in the industry globally through100 indigenous companies.Speaking at the launch of ‘Project 100’ in Abuja, the Minster of State for Petroleum Resources, Ibe Kachikwu, stated that the move would reduce influx of…

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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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