Valuechain hosts 5th annual lecture, advocates full scope Nigerian Content policy
Sopuruchi Onwuka
Industry magazine, Valuechain, will on Monday host industry players and stakeholders to a policy debate which seeks to expand the gains of the Nigerian Content policy from the petroleum industry to others sectors of the Nigerian economy.
The Annual Lecture and Awards which comes up on Monday at Fraser Suites, Abuja, is organized by MBdotCOM Media Associates, the publishers of The Valuechain.
The theme for this year’s lecture is: “The impact of Nigerian Content Law: Taking a Cue from the Successes in the Nigerian Oil & Gas Industry.”
The event which will be graced by the Vice President, Federal Republic of Nigeria Prof. Yemi Osinbajo, GCON as Special Guest of Honour will also have in attendance, the Minister of State for Petroleum Resources, His Excellency Chief Timipre Sylva as Special Guest and the Chairman NNPC Ltd Board Sen. Majorie Chuba-Okadigbo who will serve as Chairman of the occasion.
Other dignitaries are: Royal Father of the Day, HRH Alh. Aminu Ado Bayero, the Emir of Kano who also serves as Chairman of the Valuechain Editorial Advisory Council; NNPC Ltd. CEO, Mallam Mele Kyari who is the Keynote Speaker and the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB) as Speaker.
The Chief Host of the event and Publisher/Editor-in-Chief, Valuechain Group, Musa Bashir Usman, in a statement said that the achievements recorded in the oil and gas industry through the implementation of the Nigerian Oil and Gas Industry Content Development Act (NOGICD) 2010 has made it imperative for the Act to be extended to other key sectors of the economy and this informed the choice of the theme of this year’s lecture.
According to him, there is no doubt that the NOGICD Act, years after its enactment, has brought about significant gains in the nation’s local content drive in the oil and gas sector as thousands of direct jobs have been created just as the Nigerian economy now retains yearly, more than US$8 billion in-country from the annual oil industry spend of $20 billion. These improvements, he said, were recorded because of the development of critical capacities and assets by local oil and gas service companies and increased domiciliation and domestication of industry operations. The level of Nigerian content in the oil industry has increased from around 5% in 2010, to 26% in 2016 and now 42% as at December 2021.
He identified the automotive, real estate/construction, power and ICT as sectors that must take a cue from the Local Content Act championed by NCDMB, as these industries (automotive, power, construction and ICT) could be key drivers of the federal government’s diversification programme for increased revenue earnings to fund annual budgets and develop critical infrastructure.
He said: “In advocating for extension of local content to other key economic sectors, some of the key questions and posers we expect this lecture will resolve are whether we need a new law similar to the NOGICD Act for these sectors or whether we strongly believe that there is no need to create multiple regulators of local content in Nigeria but modify NCDMB’s template to suit other sectors.
“We hope that stakeholders will use the event to galvanise multisectoral support for NCDMB’s advocacy for the extension of the Nigerian Content Act to other critical sectors, including power, construction and ICT towards securing the buy-in of the National Assembly to reconsider the process for amendment of the Act to cover other sectors of the economy.”
The publisher announced that a Panel Session which will be moderator veteran broadcaster and …Mrs. Omotayo Omotosho, MFR – will feature the ES of NCDMB Engr. Simbi K. Wabote, the DG, National Automotive Design and Development Council (NADDC) Mr. Jelani Aliyu, MFR, Engr. President, Manufacturers Association of Nigeria (MAN) Mansur Ahmed and DG, National Information Technology Development Agency (NITDA) Mr. Kashifu Inuwa Abdullahi.
During the event, some notable individuals and organizations will be honoured with awards for their contributions to the development of the oil and gas industry in Nigeria.
The award categories and recipients are: Best Innovative Thinker of the Year, Mrs. Elohor Aiboni Managing Director SNEPCo; Most Reliable E&P Company of the Year, ND Western; Outstanding Female Executive of the Year Mrs. Aisha Farida Katagum GED, CS, NNPC Ltd.; Most Impactful Association of the Year, Women in Energy Network (WEIN); Torchbearers of the Transition Fuel, Nigerian Gas Association; Life Time Achievement Award Chief Ladi Jadesimi Chairman, NDEP Ltd.
There will be a posthumous Life Time Achievement Award for HE. Dr. Mohammad Sanusi Barkindo, former Secretary General OPEC.
The Valuechain Annual Lecture and Awards has since inception provided a formidable platform for the Nation’s oil and gas decision makers and stakeholders to deliberate policy announcements, explore partnership opportunities and discuss the strategies that will drive the nation towards economic prosperity.
