Stakeholders Task FG On Nigerian Content Act

In line with the diversification policy of the Federal Government, stakeholders have called for the strong implementation of the Nigerian Content Development Act to achieve desired objectives.
The stakeholders views were expressed during a three-day workshop / exhibition on Nigerian content, organized by the Port Harcourt branch of the Nigeria Society of engineers and the Nigerian content Development and Monitoring Board (NCDMB) in Port Harcourt recently.
Some experts who spoke at the workshop, stated that the Nigerian content law should be fully  implemented and extended to the manufacturing and construction industries to local content development in the country.
Speaking on the theme: “Nigerian content and the Diversification of the Economy; modular refineries, Renewable energy, power, ICT and road sub sectors” and the expert disclosed that Nigeria’s strategic economic development plan and diversification policy can only be achieved when Nigerian Professionals are given the opportunity to participate actively in policy making and implementation.
The experts, who include engineer captain of industries business executives, entrepreneurs and Government officials, urged Government to encourage local manufacturing of machines and plants to boost industrial revolution in the country.
Addressing the workshop, the Executive Secretary of the Nigerian Content Development and monitoring Board, Engr Simbi Wabote, said the Board was committed to achieving its key mandates,  “developing capacity of supply chain for effective and efficient service delivery in the oil and gas industry and the implementation and enforcement of the Nigeria oil and Gas Industry Content Development. (NOGICD).
initially the act about $20bn was spent annually with little or noting retained in-country, but about $5bn in-country is now spent every year, adding that the in-country value retention has been moved from less than 5% to 26%. He said the Board target the creation of 300,000 directors, in up stream, midstream and downstream areas of the oil industry with linkages to other key sectors of the economy as well as retain $14bn out of the $20bn spent yearly.
Speaking in an interview with newsmen during the workshop, the chairman, Port Harcourt branch of the Nigeria society of Engineers (NSE), Engr Emmanuel Idoniboye, said the branch will continue to partner with the Nigerian Content Development and monitoring Board (NCDMB) in capacity building and the development of the Nigerian content in the Nigeria oil and gas industry.
He said the theme of the workshop, was chosen in view of the dire need of the country to move away from the mono-economy by diversifying from the oil and  gas sector.
He expressed deep conviction that the workshop would proffer feasible measures as the country strives to diversify its economy in the face of obvious realities of the world.