The Nigerian Content Development and Monitoring Board (NCDMB) has said that the board has set a target of $40 billion industry spending in the next 10 years as a result of improvement in the country’s oil and gas spending.
The NCDMB Executive Secretary, Simbi Wabote, made this known in Lagos on Monday, adding that the current industry spending is approximately $20 billion.
He said at the end of 2017, Nigeria Content Development (NCD) grew to 30 percent against 5 percent before the advent of Nigeria Oil and Gas Industry Content Development (NOGICD) Act.
Wabote said with the launch of the $200billion Nigerian Content Intervention Board two years ago and the board’s 10-year strategic plan, NCDMB is driving the realisation of 70 percent content development by the year 2027.