Nigerian Content Act: Allison-Madueke Wants Speedy Implementation

PHOTO: MRS. DIEZANI ALLISON-MADUEKE UNVEILING THE LOCAL CONTENT ACT EARLIER TODAY IN ABUJA.

ABUJA April 28, (THEWILL) - Petroleum Resources Minister, Mrs. Diezani Allison-Madueke has pledged to aggressively implement the recently signed Nigerian Content Development Act.

Allison-Madueke who made this commitment at the formal unveiling of the Act Wednesday at the NNPC Towers, Abuja, stated that the administration was determined to make the huge investment in the oil and gas industry to impact positively on the economy and the lives of Nigerians via the new legislation.

"We are determined to get this right and to make it work. That is why the Bill was signed into law only a few days after it was presented to me to enable us go to work expeditiously," she said.

She also promised to adopt the same collaborative approach used in getting the Nigerian Content Development Bill passed into law to pursue the Petroleum Industry Bill to a logical and satisfactory conclusion, adding that "If anyone was in doubt about the resolve of this administration to respond speedily to the aspirations of our people, the expeditious assent to the bill by the Acting President should send a clear signal that this administration is about serious business, speed and efficacy."

The Minister demonstrated her eagerness to start enforcing the law by appointing Eng. Ernest Nwapa, the Group General Manager, Nigerian Content Division of the NNPC as the Acting Executive Secretary of the newly created Nigerian Content Development and Monitoring Board which the Act provides for as the agency to drive its implementation.

Allison-Madueke lamented that before now the impact of the over $18 billion annual spend in the oil and gas industry was not felt in the Nigerian economy because most of it was transferred to other countries to import materials and services for the industry because of the absence of a law to force the International Oil Companies, IOCs, and other players in the industry to source materials and services locally.

"With the Act now in place, operators and service companies providing services to the Nigerian Oil and Gas industry will finally be required 'by law' to perform designated scopes of work set out within the Act in Nigeria," she declared.

This, she said, will create new opportunities for indigenous participation and local capacity building that will in turn boost industry contribution to the national Gross Domestic Product (GDP) growth.

She commended the Chairman of the Senate Committee on Petroleum (Upstream) Senator Lee Maeba, who sponsored the law, and the leaders of the National Assembly for their doggedness in seeing that the Bill was passed into law, while also calling on Nigerians and international investors to take advantage of the opportunities provided by the NCD Act and other incentive packages provided by such agencies as the Free Trade Zones and the Nigerian Investment Promotion Council to invest in Nigeria.

Speaking earlier in his welcome remarks, the Group Managing Director of the NNPC, Mallam Shehu Ladan, traced the history of the Nigerian Content Development law and commended former NNPC GMD, Eng. Funsho Kupolokun, and pioneer GGM, Nigerian Content Division of the Corporation, Eng. Joseph Akande, for their visionary leadership in initiating the local content policy.

He said NNPC would now operate in compliance with the local content law like other oil companies, having been freed from driving the local content policy through the establishment of the Nigerian Content Development Monitoring Board as provided for in the Nigerian Content Development Act.

Highlight of the occasion was the presentation of plaques to Senator Maeba, Eng. Kupolokun, and Eng.  Akande for their roles in ensuring the enactment of the law.