National Economy
Sunday, June 8, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Nigeria Records 54%  Local Content Devt In 2022- NCDMB 

by Chika Izuora
3 years ago
in Business, News
Reading Time: 2 mins read
NCDMB
Share on FacebookShare on TwitterShare on Telegram

 

Mid-way into a 10-year Strategic Road Map for enhanced indigenous participation and utilisation of local assets in oil and gas operations, industry regulator, Nigerian Content Development and Monitoring Board (NCDMB) has recorded a 54 per cent Nigerian content level in 2022.

Presenting a status report at the 11th Practical Nigerian Content Workshop organised by the board and DMG Nigeria Events at Uyo, Akwa Ibom State, the executive secretary NCDMB, Engr Simbi Kesiye Wabote, explained that, the average of Nigerian content performance in the last five years was 44 per cent which represents the period the 10-year Nigerian Content Strategic Roadmap has been implemented so far.

He indicated that the performance in 2022 is well above the 42 percentage target set by the Project Management Office (PMO), just like in 2021 when 42 per cent was achieved, above the target of 38 per cent.

You May Like

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

He confirmed that tracking of the performance is based on the Board’s monitoring and evaluation of Industry activities.

Strikingly, the technical capability development pillar of the Road Map stands out as a major highlight as fabrication and construction, hitherto under near-total dominance by foreign firms, had 99 per cent Nigerian content during the period under review.

He further disclosed that 77 out of 96 initiatives under the short- and medium-term  categories of the Road Map had been completed in November 2022.

He stated that manpower in the oil and gas industry had reached 81 per cent Nigerian content as of November, while project management as of that month was 80 per cent.

Zeroing in on year 2022, the executive secretary revealed that, ‘performance was largely driven by the contracts awarded under the [Nigerian Liquefied Natural Gas] Train 7 Project.’

Low points in accomplishment were in procurement, engineering and services, with Nigerian Content as unimpressive as 34, 46, and 50 per cent respectively.

These, he assured, would be sufficiently addressed.

Technical data, cited by Engr. Wabote showed the capture of 12 new indigenous operators in the upstream sector of the oil and gas industry, bringing the total to 97. In the service subsector, there were 1,303 new corporate entrants, raising the total to 9,532, while 22,512 individual registrations were recorded, bringing the total to more than 271,000.

The executive secretary informed stakeholders that the board has commenced the process of “allocation of serviced plots to manufacturers of equipment components, spares, and tools required in petroleum industry operations to kick start operations within its Nigerian Oil and Gas Parks(NOGAPS) industrial parks at Emeyal 1, Bayelsa State, and Odukpani in Cross River State,” assuring that, “construction work is also ongoing at the other NOGAPS parks in Akwa Ibom, Imo, Delta and Ondo States with Edo as the newest addition to the list.”

He commended the group managing director of the Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, who had to fly in from Rabat straight to the conference in Uyo, for his commitment to NCDMB’s local content drive.

In his own remarks, the NNPC boss assured the nation that the effort to deepen utilisation of gas to drive industrialisation.

In his welcome address, the governor of Akwa Ibom State, Mr. Udom Emmanuel, expressed joy of the people of the State for the opportunity to host the PNC for a second time.

Represented by his deputy, Mr. Moses Ekpo, he stated the desire of the State to be considered in plans for oil and gas producing states.

ShareTweetShare
Previous Post

FedEx To Support Nigeria’s  International Shipping Demands

Next Post

The Evolution Of Nigeria’s Fintech Landscape, Unicorns In Digital Payments

ANOTHER GOOD READ

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers
News

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

5 days ago
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses
News

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

5 days ago
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch
News

FIRS Entering New Era Of Excellence, Trust — Adedeji

5 days ago
Mouka Rewards Top Business Partners With Trip To Cape Town
Business

Mouka Rewards Top Business Partners With Trip To Cape Town

6 days ago
Union Bank Hosts Math Contest For Hearing-impaired Students
Business

Union Bank Hosts Math Contest For Hearing-impaired Students

6 days ago
Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0
Business

Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0

6 days ago
Next Post
The Evolution Of Nigeria’s Fintech Landscape, Unicorns In Digital Payments

The Evolution Of Nigeria's Fintech Landscape, Unicorns In Digital Payments

Most Recent

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

PENGASSAN Secures 300% Wage Increase For Oil And Gas Workers

June 3, 2025
1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

1,500 Bureau De Change To Shut As Recapitalisation Deadline Elapses

June 3, 2025
FIRS Engages Oil, Gas Stakeholders On E-invoicing Ahead Of July Launch

FIRS Entering New Era Of Excellence, Trust — Adedeji

June 3, 2025
JUST-IN: Reps Pass Tax Reform Bills

N250bn Public Expenditures Unaccounted — Reps

June 3, 2025
5 Unicorns In 9 Years, Who Does That?

5 Unicorns In 9 Years, Who Does That?

June 2, 2025
Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

Guinness Record: Ali Seeks Gov Eno’s Support For World Title Fight

June 2, 2025
2026 World Cup Could Change Football Experience – Neymar

2026 World Cup Could Change Football Experience – Neymar

June 2, 2025
2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

2025 National Sports Federations’ Board Elections: NSC Unveils Timeline Proposed Timelines For 2025 National Sports Federations’ Elections

June 2, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy