FG tasks NCDMB to Grow Local Refining Capacity
The Federal Government of Nigeria, on Tuesday, called on the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) to develop policies and programmes to help the domestication of crude oil refining to enable the growth capacity of indigenous operators in the country.
Chief Timipre Silva, while speaking in Abuja, during the inauguration of the Governing Council members, the Minister of State for Petroleum Resources stated that the NCDMB’s 10yrs Strategic Roadmap launched in 2018 is a key compass to ensure that Nigeria derives more value in-country from its hydrocarbon resources especially by 2027.
Silva disclosed that the roadmap’s target is to achieve 70% percent Nigerian Content level in the oil and gas industry. The members inaugurated for a 4-year tenure are as follows:
- Mrs. Peace Oyanbo Owei, who is the first female ever to be amongst the NCDMB Council and a representative of the Ministry of Petroleum Resources.
- Engr. Sarki Auwalu, is the representative of the Department of Petroleum esources (DPR).
- Engr. Farouk Sa’id, representative of Nigerian National Petroleum Corporation (NNPC).
- Mr. Olorundare Thomas, representative of the National Insurance Commission (NAICOM) and
- Mr. Nicolas Odinuwe, representative of the Petroleum Technology Association of Nigeria (PETAN).
Sylva noted that in the midst of so much uncertainty around COVID-19 pandemic and instability in the world oil markets, Nigeria must look inwards to explore all the opportunities to further diversify and insulate the economy from external shocks.
Also speaking, Executive Secretary of the NCDMB, Engr. Simbi Wabote disclosed that the COVID-19 pandemic had revealed that there are existential threats. According to him, the ability of a country to cater to its people in a safe and secure environment was inversely proportional to its level of reliance on importation.
He said: “Most nations diverted their products to their own use while others wait for any crumbs that fall off the table. The importance of local content in any nation cannot be over-emphasized and the COVID-19 experience of many nations is an eye-opener.”
Ayooluwa Joshua