Nigeria’s Content Development and Monitoring Board, alongside the Upstream Petroleum Regulatory Commission, the Midstream and Downstream Petroleum Regulatory Authority, the Nigerian Petroleum Exchange and the Oil Producers Trade Section, have developed a new framework to harmonise how in-country capacity and capabilities are graded.
NCDMB executive secretary Felix Omatsola Ogbe said the next phase of local content growth will focus on capacity expansion, industrialisation, manufacturing, sustainability and global competitiveness, moving beyond the early emphasis on indigenous participation, which rose from under 5 percent to 61 percent over the past 15 years.
Under the harmonisation road map, regulators plan to modify their certification portals ahead of joint industry capacity audits of local manufacturers and service providers, a process expected to eliminate intermediaries and improve contracting timelines. Officials say the framework adopts five classes of service providers, including new categories for emerging players and essential vendors, designed to help smaller firms grow into manufacturers over time.
Ogbe said the next phase of local content development will rest on three pillars: building technical competence through continued investment in people and technology, expanding manufacturing capacity, and deepening collaboration between regulators, operators and financial institutions.
Source: offshore-mag.com