After several mon ths of advertisement and publicity calling on companies and stakeholders to submit their statutory reports, the Nigerian Content Development and Monitoring Board (NCDMB) said that the delay and non-submission of statutory reports by oil industry operators and service companies would soon be considered as non-compliance of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The Director, Monitoring and Evaluation, Nigerian Content Development and Monitoring Board (NCDMB), Mr Akintunde Adelana said this on Tuesday in Lagos at a workshop organized to introduce the revised Monitoring and Compliance Enforcement framework to industry stakeholders.
According to Adelana, the Board expects timely submission of statutory reports and had designed a system that will reward companies that comply with the provisions of the NOGICD Act. He explained that the Board revised its monitoring and compliance enforcement framework with a view to making its templates and processes user-friendly, more objective, simple and easier to complete. He added that the templates had been tested and they will impact Nigerian Content processes greatly.
Speaking further, Adelana said that the templates were designed “as part of the strategic roadmap of the Board to grow Nigerian Content to 70 per cent. We cannot achieve the target by using the old templates that were deployed since the establishment of the Board in 2010, hence the revision of the various reporting templates.”
He charged stakeholders to eschew completing the Board’s templates and submitting reports for the sake of formality, rather they should strive to provide the Board with qualitative and accurate data which will help to assess how the country is performing in terms of Nigerian Content implementation.
He said, “At the end of today’s workshop, we will expect qualitative and accurate information from submission of the template from the industry. This will help us to know how well we are doing in terms of Nigeria Content implementation.”