The Nigerian Content Development and Monitoring Board (NCDMB) has set an ambitious target of 70% growth in local content over the next 10 years from its current 26%. This will enable the country to retain $14 billion from the $20 billion spent yearly in the upstream oil and gas industry, The Nation reports.
NCDMB Executive Secretary, Simbi Wabote, during the presentation of the upgraded Nigerian Oil and Gas Industry Content Joint Qualification System (NOGIC JQS), titled: Optimising the JQS functionalities for case of doing business with the board to industry stakeholders, said that the upgrade was meant to enhance the achievement of the set targets, adding that the targets are achievable. The NOGIC JQS portal will capture industry capacity, adequate categorisation, training, employment and expatriate quota management data.
He added that indigenous and international oil companies (IOCs) will be compelled to make statutory submissions on it. On the benefits of the upgraded NOGIC JQS, Wabote said on assumption of office, carrying out daily activities were cumbersome due to huge paper works. He said with the upgraded portal, the activities will be done electronically and will substantially reduce turnaround time, enhance internal efficiency and ensure transparency.