The Nigerian Content Development and Monitoring Board (NCDMB) says the Seven Nigerian Content Ministerial Regulations officially gazetted by the Federal Government in April 2021 will strengthen the oil and gas industry.
Mr Simbi Wabote, the Executive Secretary, NCDMB, made this known while speaking at the Nigerian Content seminar during the 2022 Nigerian Oil and Gas (NOG) conference on Monday in Abuja.
The News Agency of Nigeria (NAN) reports that the session had the theme: “Expanding the Nigerian Content Frontier through Intra-African Trade.”
Wabote listed the regulations as research and development, training, capacity development; growth of indigenous capacity and Nigerian oil and gas industry enforcement and compliance regulation.
He said it also include registration of operators and other professionals with Nigerian professional bodies, technology transfer and establishment of operations in Nigeria.
Wabote noted that the regulations provide legal backing to the various aspects of the Nigerian content practice not fully detailed in the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.
He said Section 40 of the Act empowers the minister of petroleum to make regulations that would establish the minimum standards in facilities, personnel, and technology for training in the oil and gas industry.
According to him, the ministerial regulations seek to provide a framework for monitoring the implementation of the prescribed minimum standards for training in the oil and gas industry.
Wabote urged the stakeholders and players in the sector to key into the provisions of the regulations.
He expressed optimism that the full implementation would boost local content in the sector and create job opportunities for Nigerians.