The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, expressed concern over the stagnant level of content and development at 50% in the oil and gas sector for the year 2023.
Wabote revealed this during the 12th edition of the Practical Nigerian Content Forum (PNCF) held in Yenagoa, Bayelsa State.
Despite achieving a commendable 54% Nigerian Content level in the previous year, Wabote urged industry stakeholders to reflect on whether the current percentage signifies stagnation or a potential decline in Nigerian content levels.
He emphasized the need for improvement in subsequent years, considering the industry’s vital role in achieving economic growth and sustainability.
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The theme of this year’s PNCF, ‘Deepening Nigerian Content Amidst Divestments, Domestication and Decarbonisation,’ highlighted the challenges and opportunities in the evolving landscape of the oil and gas sector.
Wabote expressed concern about signs indicative of a decline in Nigerian content levels but reassured stakeholders that proactive measures could counter these dynamics.
He emphasized the industry’s role in achieving relative peace and the need for discerning stakeholders to prevent regression to previous levels of local content implementation.
The NCDMB boss acknowledged that the 54% Nigerian Content level for 2023 was well above the minimum 47% set for the year.
He highlighted the top performers in in-country spend, including Shipping, Surveying/Positioning services, and Inspection/Testing and Certification, each achieving a 100% Nigerian Content level.
However, Wabote also pointed out areas with lower performance, such as Modification and Maintenance at 26%, Health, Safety and Environment at 31%, and Materials and Procurement at 32% Nigerian Content level.
The PNCF serves as a platform for stakeholders to discuss and address challenges facing the Nigerian content development in the oil and gas industry, promoting collaboration and sustainable growth.
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