REPLICATING THE NOGICD ACT TO OTHER SECTORS

It is worthy of note to say that the Nigerian Oil & Gas Industry Content Development (NOGICD) Act 2010 brought tremendous growth and achievements to the Oil & Gas sector in Nigeria. The act has birth initiatives that contribute to capacity development and growth of in-country spend. According to the Executive

Secretary, Nigerian Content Development & Monitoring Board (NCDMB), Engr. Simbi Wabote; the O&G sector in Nigeria has grown capacity to handle over 60,000 tonnes of fabrication yearly as well as manufacturing of cables in-country. These achievements are the partial fulfilment of the vision to achieve 70% in-country value retention with the next 10 years and retention of $14billion out of $20billion spent yearly.

Replicating the (NOGICD) Act to other sectors like Power, construction and Information communication technology is a great step taken by the members of the House of Representatives and other stakeholders. 

One major set back the Act has suffered are the gaps in capacity with the O&G  linking sectors. 

Enforcing local content compliance in these sectors especially the power sector will be a major breakthrough and encouraging factor for the manufacturing sector. Which further will boost the promotion of made in Nigeria goods. 

We pray the Federal Government looks into the checks and balances on customs duties as it relates to the importation of manufacturing equipment and materials not available in-country.

Source: NCDMB