The Nigerian Content Development and Monitoring Board (NCDMB) has held the final phase of engagements with oil and gas industry stakeholders on the draft Nigerian Content Ministerial Regulations.
The latest forum was held in Lagos recently and was attended by representatives of the international and indigenous operating companies, service companies and select law firms working on the regulations.
The Executive Secretary NCDMB, Engr. Simbi Kesiye Wabote was represented at the workshop by the Director Finance and Personnel Management, Mr. Isaac Yalah and he stated the key objective of the event was “the adoption of the updated draft Ministerial Regulations by industry stakeholders for onward transmittal to the Honorable Minister for ratification.”
He stated that the Board believed strongly in collaborating with key stakeholders in the development of policies, which was why it had convened a number of engagements to obtain the reviews and endorsement of industry players on the Regulations.
Mr. Yalah indicated that Sections 36, 40, 41, 42, 47, 55 and 101 of the Nigerian Content Act empowers the Minister of Petroleum Resources to make regulations that will foster the development of Nigerian Content. He charged participants in the workshop to make robust inputs, which would be incorporated before the documents are dispatched to the Minister.
Also speaking at the forum, Coordinator, Legal Services NCDMB, Mrs. Rose Chukwuonwe noted that previous deliberations on the Ministerial Regulations had been impactful and successful.
The Ministerial Regulations covers Research & Development, (R & D); Training, Capacity Development; Growth of Indigenous Capacity; Nigerian Oil and Gas Industry Enforcement and Compliance Regulation; Registration of Operators and other professionals with Nigerian professional bodies; Technology Transfer and Establishment of operations in Nigeria.