…says Nigeria needs no duplication of Local Content Board
The success so far attained by the Nigerian Content Development and Monitoring Board, NCDMB in the implementation of the country’s local content law which continues to attract commendations from within and the international world has been described as a pointer to the leading example of Nigeria’s local content policy in Africa.
Speaking during a media engagement meeting in Abuja recently, the NCDMB’s Executive Secretary, Engr. Simbi Wabote said Nigeria does not need to create multiple local content boards to serve different sectors of the economy, adding that government should rather modify the existing NCDMB’s templates to accommodate other sectors. This is as National Assembly plans to develop the extant Local Content Act 2010 to include other sectors of the economy for further domiciliation of contracts.
He said, “The NCDMB can modify its templates to suit other sectors. In our view, this is the prudent way to expand and entrench local content regime in Nigeria.”
Speaking further, Wabote noted that all signs now point to Nigeria strengthening its Local Content implementation which he said now serves as an example in Local Content Policy for other African countries
Commenting on Nigeria as the latest of the African nations to sign the African Continental Free Trade Agreement (AfCFTA) which seeks to reduce the economic barriers in pursuit of creating an Africa-wide customs union, the ES said it would also be beneficial to local oil and gas service companies without threatening national sovereignty.He said “if you take the population of Africa and the potential market and given the general level of development of countries, the sky is the limit for any manufacturer that makes the right investment has the right quality and partnerships.”
Be the first to know when we publish an update
