How NCDMB is propelling Nigeria’s energy transition
By Ibiyemi Mathew
In line with the the Federal Government’s Energy transition plan, the Nigerian Content Development and Monitoring Board (NCDMB) has committed 70 per cent of its investments towards gas-based activities.
At a media workshop organised by NCDMB aimed at enhancing media competencies to support Nigerian content in a Gas Economy, the NCDMB General Manager for corporate communications and zonal co-ordinations, Engr. Ginah O. Ginah said, “the workshop theme was selected deliberately because the agency wants the media to give adequate attention to the Federal Government’s aspirations in the gas sector and the efforts by the NCDMB and other entities to support government’s objectives.
“As you are aware, President Muhammadu Buhari declared 2021 – 2030 as Nigeria’s Decade of Gas and announced the Federal Government’s determination to fully exploit the nation’s abundant gas resources to accelerate the development of the economy.
“The Federal Government’s strategy is to use Gas as Nigeria’s transition fuel. The Ministry of Petroleum Resources has backed this position with bold policies such as the National Gas Expansion Program, Gas Network Code and Flares Commercialisation programme,” Ginah said.
Commenting on the efforts being undertaken by the agency, Ginah said, “the NCDMB has also taken deliberate steps to actualize the Federal Government’s declarations in gas and other aspects of the oil and gas value chain. We have partnered with credible investors to develop critical projects in the sector to take Nigeria towards the goal.
“In total, we have partnered with 15 firms to set up projects covering modular refining, gas processing, gas distribution, power generation, manufacturing and others.”
This is in line with the Section 70 (h) of the Nigeria Oil and Gas Industry Content Development (NOGICD) act which states that NCDMB can “assist local contractors and Nigerian companies to develop their capabilities and capacities to further the attainment of the goal of developing Nigerian content in the Nigerian oil and gas industry.”
The agency has taken this a step further via the disbursement of the Nigerian Content Intervention Fund.
The fund according to the General Manager, Nigerian Content Development fund and treasury management,Dr Obinna Ofili is a special fund deployed to increase capacity and capability of Nigerians and Nigerian companies operating in the Nigerian oil and gas industry.
“61 companies have been beneficiaries of the fund since inception and 18 beneficiaries for our equity investments. The successful application closure for the fund has also recorded a huge success of 34 per cent (US $) and 42 per cent (NG #) which no commercial bank in Nigeria can boast of,” Obinna noted.
