Indigenous participation in oil, gas to increase by 30% by 2020 — Kentebe, Local Content Board Executive Secretary

The Nigeria Content Development and Monitoring Board (NCDMB) has said that it is working hard to increase indigenous participation in oil and gas sector to 30 per cent by 2020.

The Executive Secretary, NCDMB, Mr Denzil Kentebe, said this at the 5th Practical Nigeria Content Conference in Yenogoa.

He said that before the Nigeria Oil and Gas Industry Content Development (NOGICD) Act, 2010, which set up the Board, local human resources were not well utilised in the oil and gas industry.

“It is gratifying to see that five years into the life of the NOGICD Act, Nigerian jobs and money are no longer being exported because some capacities have been built over the period.

“Even Nigerian indigenous producers who were doing three per cent of Nigeria’s total output of oil and gas production are now producing close to 10 per cent.

“It is our desire to grow indigenous participation in the production output by 2020, to 30 per cent,” he said.

Kentebe said that the NCDMB also aimed to build a Nigeria Oil and Gas Park, expected to produce 10,000 jobs in three years and reduce importation of goods such as pumps, fittings, valves, subsea production subsystems.