Nigerian Content Development and Monitoring Board (NCDMB) at the weekend, in Yenagoa, Bayelsa State, hosted a visiting team of ranking military officers from the Nigerian Army Resource Centre (NARC), Abuja, on a local study tour.
At an interactive session, the executive secretary, Engr. Felix Omatsola Ogbe, presented a portrait of Nigeria’s oil and gas industry in its first 50 years of operation and the highpoints in implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.
According to him, “the earlier phase was marked by capital flight amounting to an estimated US$380 billion, loss of two million jobs as a result of human capital deficits, and less than five per cent in local content. In sharp contrast is the post-NOGICD Act era which has witnessed phenomenal development of in-country capacity and capabilities as a result of creative enforcement and monitoring of industry operations as well as strategic interventions by the NCDMB. “
The…
Source: Leadership Newspaper
