By Ali Elias
The Nigerian Content Development and Monitoring Board (NCDMB) received the Excellence Award at the Nigerian Content Award 2023 during the Nigeria International Energy Summit (NIES) 2024.
The Industry Awards Gala, held on the second day of the week-long Summit in Abuja starting February 26, 2024, was sponsored by NCDMB. It honored outstanding industry players for their excellence.
Earlier during their presentation, the Board offered insights into the Nigerian Content Journey since the enactment of the Act in 2010. The focus was on promoting the localization and enhancement of value-added activities within the oil and gas sector, rather than mere nationalization.
Three primary objectives were outlined: 1. Establishing organizational capabilities to meet the mandate. 2. Implementing Capacity Development Initiatives (CDIs) and employing compliance monitoring tools. 3. Executing a 10-year roadmap to elevate Nigerian Content to 70%, surpassing the current 54%.
Furthermore, the presentation encompassed various topics including NCDMB functions, funding mechanisms, strategic interventions, research and development initiatives, and monitoring and evaluation processes.