The governing council and top management of the Nigerian Content Development and Monitoring Board (NCDMB) at the weekend ended a two-day retreat aimed at deepening understanding of statutory responsibilities, corporate governance principles, and strategies for enhanced performance, among other objectives.
The retreat was attended by the Minister of State for Petroleum Resources (Oil) and Chairman of the Governing Council of the board, Sen. Heineken Lokpobiri, and the Minister of State for Petroleum Resources (Gas) and Co-Chairman of the council, Ekperikpe Ekpo, and other members of the governing council.
It was the first retreat for the current council since its inauguration in the first quarter of 2024.
Speaking at the event, held at Ikot Ekpene in Akwa Ibom State, Sen. Lokpobiri thanked members of the council and management for the sense of duty demonstrated in their whole-hearted support and attendance at the retreat.
He said the event was intended to introduce members to the workings of the board as chief implementer of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, and their own statutory roles as supervisors of the agency who have to ensure its effectiveness and success in the delivery of its mandate.
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Drawing attention to different sections of the enabling law of the board, the minister reiterated the need for the council and the management to always act within their statutory limits to foster understanding and trust, which he said were required for team spirit.
He said the NCDMB has become a business enabler to the oil and gas industry, creating optimum conditions for indigenous companies to thrive and thus deepen local content as envisioned by the NOGICD Act.
While noting that there was still room for improvement, he charged the management to be more forthcoming with information on the activities of the Board as well as challenges whenever they arise.
Earlier, the Executive Secretary of the board, Felix Ogbe, represented by the Director, Capacity Building, Bamidele Abayomi, expressed profound appreciation to the chairman and co-chairman of the governing council and other participants at the retreat, stating that the event represented “a unique opportunity for mutual interaction, strategic bonding, and a deeper understanding of the operations, challenges, and aspirations of the Board.”
He said the functions of the council, which revolve around providing policy direction, approving strategic operational plans, and ensuring effective implementation of the Nigerian content policy, are outlined in Section 75 of the NOGICD Act, and that the commitment of its members to the vision and mandate of the board has been instrumental in sustaining momentum and achieving key milestones.
Ogbe noted that the retreat would bring to light challenges faced by the NCDMB and that the invaluable guidance of council members on how best to surmount such was required, whether through policy directives, regulatory interventions, or strategic partnerships.
He said heads of the directorates of the board were available to provide detailed insights into their operations, achievements, and constraints.
The NCDMB boss cited the establishment of the Nigerian Content Intervention Fund (NCIF), the successful implementation of the 10-year strategic road map (2017-2027), and commitment to deepening local content (which is currently at 56 percent, up from five percent in 2010), as contributory factors in its attainment of significant in-country value retention and attraction of investments to the oil and gas industry.
