NCDMB to meet 70% Local Content target by 2027

…determines to create 300,000 jobs

By Etuka Sunday

Nigerian Content Development and Monitoring Board (NCDMB) yesterday restated commitment to meet the set target of 70% Local Content across the sectors of the nation’s economy by the year, 2027.
The Board disclosed this at a Capacity Building Workshop for Media Stakeholders in Abuja, with a Theme: Strategic Communication- A Critical Enabler to Attainment of Nigerian Content 10-Years Roadmap.
Flanked by the General Manager, Corporate Communications & Zonal Coordination Division, NCDMB, Dr. Ginah O. Ginah, General Manager, Research, Statistics & Development, NCDMB, Mr. Abdulmalik Halilu, Manager, Corporate Communications, NCDMB, Barr. Naboth Onyesoh, the board said, a lot of progress has been made to ensure that the 2027 vision of 70 percent local content is achieved.
It said, the focus was not “Nigerianisation” of the oil and gas sector but “domiciliation” and “domestication” of value-adding activities.
It noted that prior to Nigerian Oil and Gas Industrial Content Development (NOGICD) Act, 2010, the sector was dominated by foreign Nationals from Europe, North American and Asia with it attendant consequences of $380billion capital flight, 2million job losses and less than 5% Nigerian Content value.
This, it said, has changed with the launch of the 10-Year Roadmap, adding that so far, over 7, 000 Nigerians had been trained in that direction.
The board said, it was collaborating with relevant industry stakeholders like the Media to drive the local content implementation.
It said, it has established collaboration with the National Bureau of Statistics (NBS) on collection data and dissemination of compendum of local content statistical data.
It listed skills gap, infrastructure deficit, product standard, data availability, policy inconsistency and access to finance as some of the challenges confronting the implementation of the local content roadmap.
It however, said that funding, enabling law, measurement & monitoring, stakeholder engagement, community participation and political will was needed for achieving sustainable local content in Nigeria.
According to the Organisation of Petroleum Exporting Countries (OPEC), Nigeria is the 10th largest oil producer in the world and the second largest in Africa with oil reserve of 37billion barrels.
OPEC also said that Nigeria is 9th largest gas producer in the world and largest in Africa with gas reserve of 180TCF.