Nigerian Content Development and Monitoring Board and its functions are listed in this article. We hope you find it informative.
Nigerian Content Development and Monitoring Board
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The Nigerian Oil and Gas Industry Content Development (NOGICD) Act, led to the establishment of the Nigerian Content Monitoring and Development Board (NCDMB ) which came into existence on the 22nd of April, 2010.
The board was formed and established in line with section 55 of the NOGIC Act which clearly gave the board the power to create, sustain and operate a kind of joint system which is called Joint Qualification System (JQS) in consultation with the stakeholders in the industry and it shall be administered accordingly in line with the provision that has been set out in the rules to be made by the minister in charge in line with boundaries supported by this Act.
The vision of the board hence is to be the driving force that would sponsor the Industrialization of the Nigerian Oil and Gas industry, as well as the sectors that are linked to it, and its mission is to promote the utmost development and judicious use of capacities within the country for the industrialization of the country through effectively implementing the content act of Nigeria.
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Listed below are some key goals of the board as of 2010
- Fostering the collaboration of institutions.
- Bringing in communities that produce oil and gas into the value chain.
- Attracting investments into the oil and gas sector of Nigeria include; service providers, equipment suppliers, etc.
- Maximizing the utilization of the resources of the country in terms of goods, assets, and services.
- Linking the oil and gas sector of the country to other sectors in the country in order to create a unified body.
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The organization of the board is made up of:
- The Minister of Petroleum Resources (who will be the Chairman of the board).
- And Executive Secretary (The secretary of the council)
- A member representing the following agencies and corporations:
- Department of Petroleum Resources (DPR)
- Ministry of Petroleum Resources
- National Insurance Commission
- Nigerian National Petroleum Corporation (NNPC)
- Council of Registered Engineers of Nigeria
- Nigerian Content Consultative Forum
- Petroleum Technology Association of Nigeria (PTAN)
Functions of NCDMB
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Functions of NCDMB include the following:
1. The board is responsible for assessing, reviewing, and approving Nigerian Content plans which are developed by operators.
2. They set guidelines and minimum content levels for activities that are project-related across the oil and gas chain of value.
3. They engage in targeted capacity-building interventions that would deepen indigenous capabilities, human capital development, infrastructure and Facilities, manufactured materials, and local supplier development.
4. They also ensure the growth and management of the Nigerian Content Development Fund.
5. They establish, operate, and maintain the Joint Qualification System (NOGICJQS) in partnership with stakeholders in the industry.
6. They monitor the compliance of Nigerian Content by operators and providers of service in terms of cumulative spending, creation of employment, and sources of local goods, services, and materials used in operations and projects.
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7. They award certificates of Authorization for projects which comply with Nigerian Content provisions.
8. They conduct studies, research, investigation, workshops, and training that are aimed at the advancement of the development of Nigerian Content.
