The Nigerian Content Development and Monitoring Board (NCDMB) has announced stricter measures for approving oil service companies.
Felix Ogbe, the Executive Secretary, emphasized that only companies with proven capacity to execute projects will be approved, following a Presidential Directive on Local Content Compliance Requirements.
Speaking at the Nigerian Oil and Gas Energy Conference in Abuja, Ogbe stated that the board will exclude intermediaries without the necessary capabilities from the Nigerian Content Plan.
The NCDMB aims to ensure that contractors meet legal definitions of Nigerian companies and demonstrate sufficient capacity to execute projects within the country.
Ogbe assured that the board will continue to verify company capacities through in-country capacity audits, collaborating with relevant stakeholders.
He emphasized that oil and gas operators will only be allowed to source capacities abroad if in-country gaps are identified. The NCDMB will also evaluate current policies to promote indigenous capabilities and prevent misuse.
Abayomi Bamidele, Director of Projects Certification and Authorization at NCDMB, highlighted the board’s role in enabling oil and gas development through policies, collaboration, and investments.
Since 2011, the number of registered Nigerian service companies has grown from 1,000 to 13,000, with operating companies increasing to 120.
Bamidele urged service companies to only bid for jobs they have the technical capacity to execute, promoting efficiency and reliability in the industry.
(VANGUARD)