By Kenechukwu Obiajulu, Abuja
Minister of State for Petroleum, Chief Timipere Sylva, has commended the Nigerian Content Development Management Board (NCDMB), for what he described as “breaking new grounds in the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act” that has tremendously leap-frogged the performance of the country’s indigenous oil companies.
The minister who spoke at just concluded Practical Nigerian Content (PNC) Conference in Bayelsa, organized by the Nigerian Content Development and Monitoring Board (NCDMB), said the Conference has continued to grow every year, with NCDMB raising the heights in the implementation of the NOGICD Act.
“The shining accomplishments of the Board as well as the activities of other key agencies under the Ministry of Petroleum Resources have positioned the Ministry as a top performer in the presidential scorecard that is assessed by the Office of the Secretary to the Government of the Federation.
“I charge you to continue this commendable trajectory and to stay focused on the implementation of the Nigerian Content 10-Year Strategic Roadmap, with clearly mapped initiative and periodic checkpoints,” he said. The minister noted that Nigerians and the national economy can only derive maximum benefits from the oil and gas industry when the Nigerian Oil and Gas Content Development Act is implemented to the letter.
Sylva maintained that the Petroleum Industry Act (PIA) is a major accomplishment of the present President Muhammed Buhari administration that in the energy sector, saying that quick implementation would encourage both international and local operators will bring on board new projects that were unnecessarily delayed owing to the uncertainties of the past.
“I would like to dwell briefly on the theme of this year’s conference, which is ‘Driving Nigerian Content in the Dawn of the Petroleum Industry Act is both timely and symbolic.’ You will agree with me that President Buhari would go down in history as one of the best presidents in the history of Nigeria for ensuring the passage of the Petroleum Industry Act into law after over 20 years of lethargy.
“The signing of this PIB into law in August will remain the biggest accomplishment of this administration in the energy sector. This achievement has shaken off the cloud that held down our industry for two decades and cost our sector billions of investments,” he said.
With the PIA in place, the minister said his office swung into action with the implementation and constituted the Board of the NNPC Limited and management teams for the Nigerian Upstream Petroleum Regulatory Commission and the Nigerian Midstream and Downstream Regulatory Authority.
“We expect that our supersonic speed in implementing the PIA would encourage international and local operators to quickly introduce those new projects that were delayed by the uncertainties of the past. We expect the industry to be reinvigorated to catalyze inflows of new projects into the Nigerian oil and gas industry,” said the petroleum minister.
Be the first to know when we publish an update
