The Nigerian Content Development Monitoring Board (NCDMB) says it has recorded 56% Nigerian Content level growth in the oil and gas sector as of 2024.
Executive Secretary, NCDMB, Felix Ogbe, disclosed this in his address at the 13th edition of the Practical Nigeria Content (PNC) in Yenagoa, Bayelsa State, yesterday with the theme ‘‘Defining the New Frontier of Nigerian Content Implementation”.
Ogbe, explained that the Board was able to grow the Nigerian Content level from 26 per cent in 2016 to 56 per cent as at 2028, indicating a 30 per cent increase in eight years.
This was as he said the Board has also earmarked N15 billion for its Community Contractors Financing Scheme, an initiative that seeks to address the critical challenge faced by local contractors’ limited access to funding for contracts awarded by oil and gas companies.
It added that the single obligor limit under the scheme has now been increased from N20 million to N100 million.
