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THE Minister of State for Petroleum Resources (Oil), Sena- tor Heineken Lokpobiri, has identified the effective imple- mentation of the Nigerian Oil and Gas Industry Content
Development (NOGICD) Act 2010 as one of the key levers
for actualising the Renewed Hope Agenda of President Bola
Tinubu’s administration.
Speaking during his tour of NCDMB facilities and proj- ects in Bayelsa State on Tuesday, the Minister revealed that
the key mandates of the NCDMB, which are the promotion
of in-country value addition in the oil and gas industry, in- centivising local manufacturing in the oil industry, develop- ment of human and material capacities and job creation are
major pathways for meeting the key aspirations of the cur-
rent administration.
He hailed the Executive Secretary and the management
of the Board for a sterling performance, highlighting the
creation of the Nigerian Content Intervention Fund (NCI
Fund) as one of the Board’s most impactful initiatives. He
noted that lack of access to affordable finance is one of the
biggest challenges facing emerging players in the oil and gas
sector, hinting that the NCI Fund which is administered by
the Bank of Industry (BOI) will assist qualified oil and gas
companies to access the capital they need to grow, build ca-
pacities, and create jobs.
Commenting after a tour the Nigerian Oil and Gas Park
Scheme (NOGaPS) at Emeyal 1, in Ogbia Local Govern-
ment Area of Bayelsa State, the Minister described the park
project as a game changer in the nation’s drive to catalyse
in-country manufacturing in the oil and gas and linkage sec-
tors and job creation.
