Project 100 firms will boost local content - NCDMB

Chinazor Megbolu |

A Federal Goverment agency, the Nigerian Content Development and Monitoring Board (NCDMB) has said that engaging Project 100 Firms by Nigeria Liquified Natural Gas Limited (NLNG) will boost local content development in Nigeria under the Train 7 policy.

This was contained in a statement made available on Thursday in Lagos by the Executive Secretary, NCDMB, Mr. Simbi Wabote.

In his letter, the NCDMD Executive Secretary requested the Managing Director, NLNG, Mr. Tony Attah, to know that involving Project 100 firms in its supply chain would be a major boost in the quest to collectively supporting local companies to become large enterprises.

Wabote added that it would also help to deepen local content practice in Nigeria’s oil and gas industry and therefore, urged NLNG to engage project 100 firms to make local content initiative achievable.

He further urged NLNG to evaluate the capabilities of the beneficiaries of Project 100 programme.

Wabote noted that the reason behind the evaluation was to enable NLNG engage the Project 100 firms in the execution of its Train 7 project and other related services.

According to him, “the letter is introducing Project 100 Beneficiaries for Consideration on NLNG Projects.”

He explained further that the Project 100 was established to identify 100 start-up oil and gas companies and support them through special interventions to facilitate their incubation, maturation and growth into world class service companies.

Wabote, explained that the programme was initiated as part of the board’s mandate to develop the capacity of the local supply chain for effective and efficient service delivery in the oil and gas industry.

“The first phase began in January 2019 and 60 companies were selected through a transparent process conducted by KPMG, an international consultancy firm.

“The benefits of the scheme include special interventions including access to market opportunities, access to capacity building, funding, policy prescription, research and development and business insight.

“The board has been giving this support to the companies and is committed to continue as well as offer other institutional assistance to aid the companies’ maturation into world class status,” Wabote said.

He maintained that as part of its access to market intervention, NCDMB will regularly recommend Project 100 Companies to project promoters and big Engineering, Procurement, Construction and Installation (EPCI) firms.

Additionally, Wabote hinted that the idea is to create business opportunities after an independent assessment of their capabilities.

According to him; “in this particular instance, NLNG is expected to conduct its own due diligence on the capacity of these companies and based on their proven capacities engage them for the Train 7 project”.

Editing by ‘Biodun Soyele