NCDMB Commits to Accelerating Approvals for Oil Industry Projects
Engr. Felix Omatsola Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has reaffirmed the agency’s commitment to expediting the approval process for requests and documents submitted by operating oil and gas companies.
The primary objective of this commitment is to facilitate the swift development of oil and gas projects, thereby contributing to increased oil production and overall economic improvement for the nation.
Ogbe made this assurance during a meeting held at the Nigerian Content Tower in Yenagoa, Bayelsa State, where he welcomed senior officials from Chevron Nigeria Limited, led by the Deputy Managing Director, Mr. Cosmas Iwueze.
The Executive Secretary emphasized the importance of accelerating the approval process to ensure timely project execution in the oil and gas sector. By streamlining the approval process, the NCDMB aims to support the growth and expansion of oil and gas projects, ultimately driving economic development and prosperity for Nigeria.
Ogbe’s statement underscores the NCDMB’s ongoing efforts to foster collaboration with industry stakeholders and facilitate the efficient implementation of oil and gas projects across the country. Through its commitment to accelerated approvals, the NCDMB seeks to create an enabling environment for sustainable growth and development in the Nigerian oil and gas industry.
Engr. Felix Omatsola Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), expressed the agency’s commitment to enhancing the timelines outlined in the Service Level Agreement (SLA) established by the NCDMB, Nigerian National Petroleum Company Ltd (NNPC Ltd), and international oil companies.
The aim is to expedite the contracting cycle for oil and gas projects and minimize delays in project execution.
Ogbe reiterated his proposal for the formation of technical working groups (TWGs) comprising representatives from the NCDMB and respective international oil firms. These TWGs would convene regularly, either monthly or quarterly, to assess the expectations of the companies from the NCDMB regarding their projects.
The primary objective of these meetings would be to address any contentious issues, reconcile discrepancies, and reach consensus before official correspondence is issued. This proactive approach is intended to streamline the approval process, facilitate quick decision-making, and minimize downtime associated with project approvals.
By establishing TWGs and fostering regular dialogue between the NCDMB and international oil companies, Ogbe aims to enhance collaboration, promote transparency, and ensure that project approvals are handled promptly and efficiently. This initiative underscores the NCDMB’s commitment to facilitating the development of oil and gas projects in Nigeria while upholding high standards of governance and regulatory compliance.
Engr. Felix Omatsola Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), reiterated the importance of compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act by all oil and gas companies.
He emphasized that adherence to the provisions of this legislation is crucial for promoting local content development, fostering economic growth, and maximizing the benefits of the oil and gas sector for the Nigerian economy.
Ogbe assured that the NCDMB is committed to expediting the approval process for urgent requests from companies to prevent delays that could lead to cost overruns and negatively impact oil and gas operations and the broader economy.
He emphasized the need for collaboration between the NCDMB and oil and gas companies, highlighting the board’s role as a partner in progress. Ogbe stressed the importance of creating an enabling environment that minimizes conflicts with international oil companies (IOCs) while attracting investments and generating employment opportunities, aligning with the economic objectives set forth by President Bola Tinubu.
“We want to make international oil companies comfortable and reverse the exit of foreign investors because they create jobs, and we need all hands on deck.”
Engr. Felix Omatsola Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), reflected on his extensive and successful career with Chevron Nigeria, noting that teamwork is a hallmark of the company. He emphasized that the NCDMB operates with a similar core value of teamwork and is committed to supporting oil companies in achieving their operational goals.
Ogbe stressed the importance of mutual success, stating that the NCDMB’s success is intertwined with that of the oil companies it serves.
Ogbe reiterated the board’s approach of prioritizing dialogue over sanctions, emphasizing a flexible and collaborative approach to addressing challenges and achieving win-win outcomes. He underscored the importance of maintaining an open-minded perspective and focusing on critical paths to ensure progress and effective production in the oil and gas sector.
Mr. Isaac Yalah, the Director of Planning Research and Statistics at the NCDMB, commended Chevron Nigeria for its support in developing the Nigerian Content Research Centre of Excellence at the Federal University of Technology Akure (FUTA). He affirmed the board’s commitment to continuing collaboration with Chevron on various projects and addressing any issues related to expatriate quota approvals.
In response, Mr. Cosmos Iwunze, the Deputy Managing Director of Chevron Nigeria, praised the Executive Secretary for his collaborative approach and efforts to increase crude oil production in Nigeria. He emphasized the importance of competitive crude oil production costs and highlighted the shared goal of ramping up Nigeria’s crude oil production volumes to enhance revenue generation for the country.
Iwunze also stressed the need to incentivize investments in the oil and gas sector, recognizing the competitive landscape and the importance of attracting capital to support operations and growth.
He said: “The capital we need for big oil and gas investments is domiciled with global investors. We need to always present Nigeria as an investor-friendly destination where people can come and do business.”
Mr. Cosmos Iwunze, the Deputy Managing Director of Chevron Nigeria, further confirmed that the company is actively engaged in major projects, particularly in the areas of deepwater exploration and the Escravos gas-to-liquids (EGTL) initiative.
He expressed anticipation for the support and collaboration of the Nigerian Content Development and Monitoring Board (NCDMB) when these projects undergo consideration and approval processes.
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This confirmation highlights Chevron Nigeria’s commitment to advancing significant projects that contribute to the development of Nigeria’s oil and gas sector.
It also underscores the importance of collaboration between industry stakeholders and regulatory bodies like the NCDMB to facilitate the successful execution of such projects, ensuring they align with local content development objectives and contribute to the country’s economic growth and energy security.
