Engr. Simbi Wabote, Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB) went global yesterday with Nigerian Content Advocacy, when he addressed delegates to the African Oil Week (AOW) in Cape Town, South Africa at the start of the African Local Content Forum.
African Local Content Forum is an innovative inclusion in the bouquet of AOW plenaries promoted by NCDMB and other partners to serve as a high profile platform for NOCs, International and Independent Oil Companies, Service Companies to generate a single vision of a future road-map for African Content within the global oil and gas sector.
Speaking on the topic, ‘How to Develop Funds for Local Content Development’, Wabote asserted that the Nigerian Content Development Fund model is an attractive option for both upcoming and matured oil and gas jurisdictions in the African sub-region.
He outlined five key parameters required for sustainable local content practice, to wit, Regulatory Framework, Capacity Building, Gap Analysis, Research and Development, and Funding and provision of incentives.