The Nigerian Content Development and Monitoring Board (NCDMB) yesterday called on Judiciary to change the structure of Nigeria’s economy from import dependency to a manufacturing country that can generate employment for the teeming youth population.
The Executive Secretary of NCDMB, Engr Simbi Wabote made the appeal in his keynote address at the capacity building workshop organised for the Judiciary and other stakeholders in Bayelsa State with the theme: ‘Philosophy and the Imperative of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010.
Wabote disclosed that the board has grown the Nigerian Content in the Oil and Gas sector to 42 percent, noting that, the 10-year road map is to grow it to 70 per cent which would translate to the creation of 300,000 direct jobs, retention of $13billion out of the estimated $20billion spend in the oil and gas industry and establishment of two shipyards in Nigeria.
He noted that with less than 5 per cent Local Content before the enactment of the NOGICD Act 2010, Nigerians are reversing dominance by foreign companies.
According to him Nigerian owned oil companies currently produce 15 per cent of the country’s daily oil output and account for some 60 per cent of domestic gas supply.
On ownership of oil and gas industry equipment, Wabote said that available records indicate 40 per cent of vessels deployed in the sector were owned by Nigerians.
Mr Naboth Nyeso, Head of Legal Services at NCDMB noted that although oil and gas was on the exclusive legislative list, some conflict arising from implementation of the NOGICD Act may be brought before the judiciary.
Nyeso said that the NCDMB sees the all levels of judiciary at state and federal levels as critical stakeholders who need to understand the NOGICD Act.
He explained that the Petroleum Industry Act reinforced the NOGICD Act as it complements the legislation.
Chief Judge of Bayelsa State Justice Kate Abiri who served as resource person in one of the technical sessions on Role of the Judiciary in Attaining the Goals of the NOGICD Act commended the board for the workshop.
She said a detailed grasp of the contents and intents of the legislation were crucial for the judiciary to give unbiased interpretation and enforcement of the law.
The workshop drew participants Bayelsa Judiciary, Federal High Court Yenagoa, Nigeria Industrial Court Yenagoa and Port Harcourt Divisions, and the Faculty of Law, Niger Delta University.
