The Nigerian Content Development and Monitoring Board (NCDMB) hosted a local content and skills training session during the African Energy Week (AEW) (AECWeek.com) Conference Technical Track, occurring ahead of the Strategic Program this week. The masterclass aligns with the NCDMB and African Energy Chamber’s commitment to drive local content development throughout the entire value chain of the African energy sector.
Established in 2010 under the Nigerian Oil and Gas Industry Content Development Act, the NCDMB has been a driving force behind positive developments in building local capacity within Nigeria's oil and gas industry. This has been achieved through strategic partnerships with academia and industry players aimed at enhancing infrastructure, developing content development strategies, and promoting Science, Technology, Engineering, and Mathematics education initiatives.
Kicking off the session with a presentation on capacity building, Director for Capacity Building for the NCDMB, Ama Ikuru stated, “There should be a collaboration between operating companies, service providers, and the government.”
Since the inception of the Nigerian Oil and Gas Industry Content Development Act in 2010, the NCDMB has made a commitment to building capacity with a focus on human capital. Ikuru explained that the NCDMB has a policy which is not merely about training without purpose; it's structured as follows: 60% of training is aimed at providing access to employment, 20% is directed towards those who are already working, and the remaining 20% targets new entrants. The NCDMB’s overarching goal is to boost local content to 70% by the year 2027, and the organization has successfully trained a workforce of 16,000 individuals.
He concluded with, “We need investment,” and that “we need those who are willing to invest to come and support us.”
The session then delved into a presentation discussing the Nigerian Content Intervention (NCI) Fund as an Elixir for Local Content Development by Obinna Ofili, the General Manager of the NCD Fund and Treasury Management, NCDMB.
“The NCI Fund had an independent funding source, which is the Nigerian Content Development Fund,” said Ofili, adding that “Nigerian Content Development Fund is a fund created by the government deliberately because of financial issues. It's very difficult to get finance to finance operators in the oil and gas industry in the country.”
Further attributes include the effectiveness of taking 1% of every contract in the oil and gas sector and placing it in the Nigerian Content Intervention Funds.
Concluding the session, Abayomi Bamidele, Director for Project Certification and Authorization, NCDMB, said, “If you are an investor in Nigeria, the law protects you to ensure you get pastorage in terms of your investment.” He explained that the NCDMB has made a considerable effort in optimizing the processes that reduce the contract time for contracts to get awarded.
The NCDMB's Local Content and Skills Training Masterclass at AEW 2023 underscored the importance of nurturing local talent and businesses to achieve sustainable growth in the African energy sector, with a focus on capacity building, funding initiatives, and project certification and authorization.
The AEW 2023 Technical Track kicked off the week’s discussions, with the Strategic Program commencing Tuesday October 17. Keep following www.AECWeek.com for more exciting information and updates about Africa’s largest gathering of energy stakeholders.
Distributed by APO Group on behalf of African Energy Week (AEW).
Source: Apo-Opa
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