NCMB: IOCs will come back to invest in Nigeria

The Nigerian Content Development and Monitoring Board (NCDMB), has said efforts were being made to bring the International Oil Companies (IOCs) back to Nigeria to continue their operations.

The Executive Secretary, Engr. Felix Omatsola Ogbe who spoke during the Executive Secretary 2024 Breakfast Meeting in Lagos, with the theme: “The Role of the Media in Sustaining Nigerian Content Development”, said the board also intends to increase the initiative to make sure that the second time construction activities in the oil and gas industry, according to the President’s directive, was within the six months as directed.

“At the same time, again, we’re going to go into dealing with the communities, trying to grow capacity with the community contractors so that the impact of the community on oil and gas operations is minimised to the barest minimum as soon as possible,” he said.

The Executive Secretary said in the last 10 months, the board had maintained the path of the Board adding that the board had also completed some of the Board’s ongoing projects, while developing new policies in response to the emerging developments.

He however stated that the challenges were how to minimise or reduce the cost of contracting and minimise the impact on IOCs in terms of activities in the country.“For the companies who have left the shore of Nigeria, we should be able to bring them back to continue doing operations and respect Nigeria’s content as per the President’s directive. So we have challenges with how to get people who are planning to leave or who have already left the shores to come back and invest in Nigeria,” he said.

 “This breakfast meeting underscores the high importance and value which NCDMB accords to the relationship with media stakeholders as part of the Nigerian Content project,” he said.

He said  the success of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and the Nigerian Content 10-year strategic roadmap depended on public communication, awareness and support received from key oil and gas stakeholders.

NCMB: IOCs will come back to invest in Nigeria - The Nation Newspaper (thenationonlineng.net)