The Nigerian Content Development and Monitoring Board (NCDMB), has said that the construction of the Liquefied Natural Gas (LNG) Train7 has witnessed 60 per cent local content.<\/P>
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Executive Secretary, NCDMB, Mr Simbi Wabote, said this on Wednesday in Abuja while briefing newsmen on the forthcoming Oil and Gas Opportunity Fair, scheduled to take place in Bayelsa from May 17 to 19.<\/P>
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Wabote said unlike the LNG Train 1 to 6 that had near zero participation of Nigerians because of poor performance in energy technology, the Train 7 had more Nigerians participating due to the development of local capacity and capability.<\/P>
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\u201cI think the project is a total of about US$5 billion and 50 per cent of that is being handled in-country and by Nigerians,\u201d he said.<\/P>
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Wabote said that the significant leap and growth happened because they provided many Nigerians with the opportunity to excel in oil and gas technology.<\/P>
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He said the local content participation being witnessed in the oil and gas technology was achieved mainly through the biannual Nigeria Oil and Gas Opportunity Fair (NOGOF), organised by the NCDMB.<\/P>
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\u201cWhen we were looking at the strategy on how to develop Nigeria content, that is, the local capacity to provide services to the oil and gas industry, we went through a lot.<\/P>
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\u201cThere was so much that we needed to do in order to enhance the participation of Nigerians.<\/P>
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\u201cSo it was out of this request by stakeholders that we looked at it and said okay provide a platform where you will tell them of opportunities in the industry such that people can begin to prepare themselves.<\/P>
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\u201cOne of the greatest successes was that if you look at the Train LNG 1 to 6, the level of Nigerians participation was near zero because energy technology and the activities there were alien to us.<\/P>
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\u201cEverything practically was done overseas but with the advent of NOGOF, today, 60 per cent of the activities in LNG 7 is being done by Nigerians.<\/P>
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\u201cIt is because we provided the prime information which enabled them to prepare themselves to participate in that project,\u201d Wabote said.<\/P>
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According to him, the local content participation is a creation of the Act 2010 which mandates the NCDMB to support the development of local capacity and capability in Nigeria\u2019s oil and gas industry.<\/P>
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He noted that the Act also mandated the board to foster institutional collaboration, maximise Nigerians\u2019 participation in the oil and gas activities and link the sector to other sectors of the economy.<\/P>
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\u201cWe are also maximising the utilisation of Nigerian resources amongst other objectives.\u201d<\/P>
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Wabote highlighted the importance of the oil and gas fair to the economy, noting that it was an opportunity to industrialise the country.<\/P>
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\u201cOur goal is to use NOGOF as a platform to promote these objectives that drive growth and development across the Nigeria oil and gas value chain.<\/P>
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\u201cWe are excited to engage with stakeholders, foster the development of local content and strategise on the capacity building initiatives that will benefit the industry and the broader economy.<\/P>
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\u201cThis will be the fourth edition, the first and second edition were hosted in Akwa-Ibom and Bayelsa states respectively, while the third edition was hosted virtually due to the COVID-19 pandemic.<\/P>
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\u201cOur theme this year is \u201cThe oil and gas industry, catalyst and fuel for industrialisation of Nigeria\u201d and interested stakeholders can visit WWW.NCDMBNOGOF.org for information on how to get involved in any capacity.<\/P>
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\u201cWe believe the theme is important as it highlights the critical role of the oil and gas industry in tune with industrialisation and overall development of the Nigerian economy.<\/P>
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\u201cWe have also raised the bar at this year\u2019s event by expanding our focus to include the linkage industries and extending our reach beyond Nigeria to the entire African continent,\u201d he added.<\/P>
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The NCDMB boss noted that another objective of NOGOF2023, would be to bring together key stakeholders of the oil and gas industry to discuss ways to deepen local content.<\/P>
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This, he said, would be done by leveraging identified opportunities and identifying sonic ways to move the industry forward.<\/P>
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Source: News Agency of Nigeria<\/P>
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The Nigerian Content Development and Monitoring Board (NCDMB), has said that the construction of the Liquefied Natural Gas (LNG) Train7 has witnessed 60 per cent local content.Executive Secretary, NCDMB, Mr Simbi Wabote, said this on Wednesday in Abuja…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n