NCDMB partners Justice ministry to enforce local content laws.

Read Time:1 Minute, 30 Second
Page Visited: 70
NCDMB partners Justice ministry to enforce local content laws.

 

Chinazor Megbolu   |   

The Minister of Justice and the Attorney General of the Federation, Mr. Abubakar Malami (SAN) has said the Ministry of Justice is collaborating with the Nigerian Content Development and Monitoring Board (NCDMB) towards enforcing compliance of local content in Nigeria.

Malami also noted the partnership would lead to prosecuting defaulters of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act as well.

He made the remarks when the Executive Secretary, NCDMB, Engr. Simbi Wabote paid him a courtesy call in Abuja.

While lauding the NCDMB effort so far, Malami posited that the agency’s contribution to the country’s economy, particularly for growing Nigerian Content from five per cent before the advent of the Act in 2010, to 28 per cent presently is worthy commendation.

He further pointed out that the NCDMB has the mandate and responsibility of carrying out compliance monitoring, hence the necessity to partner with them to help prosecute serial offenders of the Act in order to achieve compliance by other industry players.

Meanwhile, Wabote, during the visit said there was need for in-country value retention in the oil and gas sector and compliance by operating and service firms as provided by the NCDMB Act.

He, however, urged staff of the Ministry to acquire more knowledge as regards the Nigerian Content Act.

Wabote further charged them to also be in tune with the operations of the NCDMB in a bid to enable them interpret matters that might be brought to their attention and support the Board to prosecute defaulters as enshrined in the Act.

Wabote further maintained that NCDMB is committed to completing the review of drafting the Nigerian Content regulations, geared towards achieving 70 per cent in-country value retention by the year, 2027 in order to boost the Nigerian Content development.

© 2021, https:. All rights reserved., Attribution and link to nigeriamaritime360.com is required if you wish to use any of the articles on this site

0 0

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a comment

%d bloggers like this: