The Senate Committee on Local Content has reiterated its commitment to collaborating with the Nigerian Content Development and Monitoring Board (NCDMB) to increase the participation of Nigerian workers in the oil and gas industry.

According to Senator Ede Dafinone, Vice Chairman of the committee, the National Assembly is eager to work with the NCDMB to build a more resilient and Nigerian-driven oil and gas sector, which will have a significant impact on the country’s economy.

During a recent visit to the NCDMB headquarters in Yenagoa, Senator Dafinone expressed his admiration for the board’s efforts to promote in-country production of equipment used in the oil and gas industry.

He noted that the committee was impressed by the progress made by the NCDMB, particularly in the area of training and capacity-building programs for Nigerians.

Senator Joel-Onowakpo Thomas, Chairman of the Senate Committee on Local Content, emphasized the committee’s mandate to ensure that Nigerians benefit maximally from the nation’s oil and gas resources.

He assured that the committee would work to create an enabling environment that encourages business growth, job creation, and skills development.

The NCDMB’s Executive Secretary, Engr. Felix Omatsola Ogbe, revealed that 10 companies have applied to occupy the Industrial Park at Emeyal 1 in Bayelsa State. He expressed his optimism that the park would be ready for occupancy by the end of the year, with six of the applicant companies already meeting the necessary requirements.

Ogbe also used the opportunity to advocate for the protection of the Nigerian Content Development Fund (NCDF) from revenue deductions, citing the provisions of the Nigerian Oil and Gas Industry Content Development Act.

He explained that the fund is crucial for supporting Nigerian content development and promoting the growth of local businesses in the oil and gas sector.

The NCDMB is targeting small and medium-scale manufacturers, including those producing essential equipment such as bolts and nuts, as well as firms engaged in fabrication, tailoring, and safety gear production.

With the support of the National Assembly, the board is poised to make significant progress in developing and implementing policies that will drive local content development and increase Nigeria’s participation in the oil and gas industry.