The Minister of Justice and the Attorney General of the Federation, Mr. Abubakar Malami (SAN) has said that the Ministry of Justice would collaborate with the Nigerian Content Development and Monitoring Board (NCDMB) in the enforcement of compliance and prosecution of defaulters of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The chief law officer made the commitment when the Executive Secretary of NCDMB, Engr. Simbi Wabote paid him a courtesy visit in Abuja recently.
The Minister commended the Board for the great strides it has accomplished, particularly for growing Nigerian Content from five per cent before the advent of the NOGICD Act in 2010, to 28 percent presently and its contributions to the economy.
He noted that compliance monitoring is a key aspect of the Board’s mandate that requires the Ministry’s collaboration for the prosecution of serial offenders of the Act to achieve compliance by other stakeholders.
Earlier in his remarks, the Executive Secretary highlighted the need for in-country value retention in the oil and gas industry and compliance by operating and service companies with the provisions of the NOGICD Act.
He encouraged staff of the Ministry of Justice to acquire knowledge about the Nigerian Content Act and the operations of the Board. According Wabote, it would enable them interpret matters that might be brought to their attention as well as support the Board in prosecuting defaulters as stated in the Act.
The ES reiterated the Board’s eagerness to complete the review of the draft Nigerian Content regulations, which are tailored to achieve 70 percent in-country value retention by 2027 and foster the development of Nigerian Content.