Local Content

Local firms major violators of local content act – Wabote

Mar 11, 2019

The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said local firms flout the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act more than international oil companies (IOCs). He is surprised that indigenous operators who benefited from the Act are circumventing it. The NCDMB chief spoke with…

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NCDMB boss forecasts $25bn investment in Nigeria’s oil, gas sector in 2 years

Mar 8, 2019

The Federal Government yesterday said the nation’s oil and gas sector would attract $25 billion investment in the next two years. Engr.Simbi Wabote, the executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), who disclosed this in Lagos at a pre-event press conference of Nigerian Oil and Gas Opportunity Fair, NOGOF, said the…

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Locally-trained welders adding value to Nigeria’s refineries -WRPC, PHRC

Feb 19, 2019

Management of the Port Harcourt and Warri refineries have commended the Petroleum Technology Development Fund, PTDF, for its welders’ training programme, stating that the welders had added significant value to the operations of the country’s refineries. In a statement in Abuja, Head, Press and External Relations of the PTDF, Mr. Kalu Otisi, said some oil…

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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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