Yenagoa—The Nigerian Content Development and Monitoring Board (NCDMB) has said it would soon issue policy directives on in-country manufacturing capabilities of pumps, flanges, valves, and other major equipment categories utilised in different streams of the oil and gas industry, which constitute a huge percentage of capital and operational expenditures.
The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote gave the indication when he received the report of the industry wide implementation committee for in-country manufacturing of pumps, valves, flanges, gaskets, bolts, and nuts, according to the Daily Trust.
He said the whole essence of local content implementation is to eliminate briefcase contractors, add value in-country and create jobs for Nigeria’s teeming population
The committee was set up on July 7, 2022, and members were drawn from international and indigenous operating and service companies and staff of the NCDMB.
He assured that the Board would study the report and implement the recommendations in the short, medium, and long term.
He described Nigerian Content implementation as a marathon, explaining that the attainment of some targets and percentages in the schedule of the Nigerian Content Act are aspirational.
Submitting the report, the chairman of the committee, Mr. Cyprain Ojum noted that eight major equipment categories occur in various oil and gas operations, listing them to include pumps, valve, flanges, gaskets, bolts, nuts, meters, and instrument fittings.
He said that the Nigerian Content target of growing Nigerian Content performance to 70 percent by 2027 and the retention of $14bn in the economy is achievable and in-country manufacturing of the eight major equipment categories would contribute a huge part of that achievement.