The Nigerian Content Development and Monitoring Board (NCDMB) has concluded plans to launch new Contracting Cycle Guidelines for the oil and gas industry.
This is in compliance with the Presidential Directives on Local Content announced by President Bola Ahmed Tinubu in March to accelerate oil and gas contract timelines, incentivise investments in the sector and increase Nigeria’s crude oil production.
The Executive Secretary of the NCDMB, Felix Omatsola Ogbe, announced this at the two-day Contracting Cycle Guidelines Sensitisation Workshop organized in Lagos by the Project Certification and Authorization Directorate (PCAD) of the Board for international and indigenous operating oil and gas companies and their service counterparts.
The workshop provided a platform for NCDMB to explain the provisions of the Guidelines and how it would implement them in alignment with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and the Presidential Directives.
The workshop featured technical presentations and interactions and the participants thanked NCDMB for providing a platform for stakeholders to make constructive inputs into the industry’s operating guidelines.
