Local content policy not stifling oil industry investments – Nwapa

By Udeme Akpan

The pioneer Executive Secretary of the NCDMB, Dr. Ernest Nwapa has dismissed  speculations that the stringent implementation of section contented argumentation was liable for the lack of last concern decisions (FIDs) successful the country’s lipid and state assemblage implicit a play of time.  

In a presentation, titled, “Staying the Nigerian Content Course successful the Midst of Delivery Challenges,” delivered astatine the Nigerian Content Academy Lecture Series by the NCDMB,  Nwapa stressed that “There are galore authorities policies that are affecting FIDs.”

Nwapa highlighted the increasing complexity of the vigor landscape, marked by planetary trends and accrued demands for section participation. He warned against undermining section contented efforts, stressing that ambiguities successful the Presidential Directives of February 2024 had created disorder wrong the assemblage and weakened respect for the NCDMB’s authority. “When the Board writes a missive connected Nigerian Content, it should stand,” helium said.

Tracing the improvement of section contented policy, Nwapa noted that portion earlier frameworks specified arsenic the Petroleum Act (1969), PTDF, and Cabotage Act (2003) aimed astatine localisation, nary matched the interaction of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010. He credited the Act with creating opportunities for young Nigerian engineers and technicians, citing projects similar Egina arsenic impervious of success.

While acknowledging concerns astir precocious section contented costs, helium argued that lone sustained implementation would trim them implicit time. “You either wound the slug present oregon suffer retired completely,” helium said, urging project-specific outgo assessments and stronger collaboration betwixt the Board and manufacture players.

He further advised that the Nigerian Content Academy should service arsenic a deliberation vessel for applicable solutions to argumentation and implementation challenges. The play Lecture Series aims to deepen consciousness of manufacture trends and empower Nigerians to payment afloat from lipid and state opportunities.

The station Local contented argumentation not stifling lipid manufacture investments – Nwapa appeared archetypal connected Vanguard News.