NCDMB highlights oil & gas opportunities in sector
Executive Secretary, Nigerian Content and Development Board, NCDMB, Engr. Simbi Wabote has listed opportunity areas of target for investors to take advantage of within the next two to five years in the Nigerian oil and gas sector.
While delivering the welcome address at the ongoing 2-day 3rd edition of the bi-annual Nigerian Oil & Gas Opportunity Fair, NOGOF 2021, Wabote identified the opportunities as policy-driven, funds driven, infrastructure driven, people driven, and linkage-driven opportunities.
Giving deeper insights into the above, the NCDMB boss said the roll-out of new policies and enactment of new laws typically, has opened a new vista of opportunities for discerning investors.
According to him, impending passage of the Petroleum Industry Bill, amendment of the Nigerian Oil and Gas Industry Content Development, NOGICD Act, the ratification of the African Continental Free Trade Area, AfCFTA agreement, and the recently approved and gazetted ministerial regulations are some of the policy and regulatory-driven opportunities currently in-country.
Wabote also mentioned the rollout of executive orders by the Federal Government to drive key aspects of the present administration’s goals, saying that the orders have been useful in raising awareness about local content opportunities as well as demonstrating executive backing of the practice.
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