NCDMB boss gives reasons for companies refusal to contribute to local content fund


The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has given an insight into why some companies have refused their one per cent contributions to the Nigerian Content Intervention (NCI) Fund, ThisDay reports.

The NCI Fund is a pool made available by the NCDMB to meet the funding needs of manufacturers, service providers and other key players in the Nigerian oil and gas industry. It was however, gathered that some upstream companies do not contribute to the NCI Fund at all.

Speaking during an interview on his strategies to make these companies to comply with the NOGICD Act 2010 by contributing to the Fund, Wabote stated that  ignorance and lack of adequate knowledge of the implications of not contributing were largely responsible for the attitude of these companies.