Indigenous participation in oil, gas contracts hits 80 per cent

The Nigerian Content Development and Monitoring Board (NCDMB) Wednesday said indigenous participation in oil and gas contracts has moved from less than 10 per cent to 80 per cent this year.

Its Executive Secretary, Denzil Kentebe, who spoke at the fifth Practical Nigerian Content in Yenagoa, the Bayelsa State capital said the board would from next year insist that Nigerian-built vessels be given priority in tenders alongside Nigerian-owned vessels.

The theme of the conference was Consolidating Nigerian Content Through Domicillation  of Industry Activities.

According to him, the intervention will culminate in the development of a flourishing shipbuilding industry with all the benefits in job creation, retention of revenue and technology acquisition.

e said,,”From 2016, we will be insisting that Nigerian built vessel be given first consideration in tenders along with Nigerian owned vessels.  Our intervention will see to the development of a thriving ship-building industry with all the benefits in job creation, retention of revenue and technology acquisition.”

He said the board’s interventions on compliance have increased participation of Nigerians in oil and gas contracts from less than 10 per cent to over 80 per cent.

He said after over 50 years of oil discovery and with over 14 Floating, Production, Storage & Offloading (FPSOs) built for Nigeria in foreign yards, the country is now constructing an FPSO integration yard at Ladol Lagos. 

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