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NCDMB Unveils Ministerial Regulations, Charges Industry on Compliance
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled seven (7) ministerial regulations that will provide a proper framework for monitoring the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The regulations were approved by the Minister of State for Petroleum Resources, Mr. Timipre Sylva in April 2021 and were publicly unveiled at the Nigerian Content Seminar held at the recently concluded 2022 Nigerian Oil and Gas Conference in Abuja.
The Executive Secretary of the NCDMB, Engr. Simbi Kesiye Wabote explained that the regulations were made in line with section 40 of the NOGICD Act, which empowers the Minister to make them with a view to establishing the minimum standards in facilities, personnel, and technology for training in the oil and gas industry.
He noted that the Regulation on Training in the Nigerian Oil and Gas Industry provides for “the minimum standards, facilities, personnel, and technology for training in the oil and gas industry and modalities for involving operators and service providers as partners in training and development”, while the Regulation for the Further Growth of Indigenous Capacity sets out targets to ensure full utilization and steady growth of indigenous companies engaged in exploration, seismic data processing, reservoir studies and other facilities.
He added that the regulation for the Further Growth of Indigenous Capacity reinforces the principle of First Consideration for Nigerian-made goods and services and details compliance waiver management and the deployment of Capacity Development Initiatives (CDI’s) as a tool for the growth of indigenous capacity.
He also explained that the third Regulation which borders on the Registration of Oil and Gas Professionals with Nigerian Professional Bodies stipulates the requirements for any operator or company or professional employee, including expatriates, engaged for any professional service within the industry to register with relevant professional bodies.
Similarly, he explained that the Regulation for the Establishment of Operations in Nigeria 2021 requires an operator to set up facilities or other operations within Nigeria for the purposes of carrying out any services otherwise imported into Nigeria.
This particular regulation he said, “is meant to fully involve the operators in the eradication importation of goods by jointly developing CDI’s to close identified gaps and stipulates the procedure for securing tax and other fiscal incentives for compliant operators.”
The Executive Secretary further explained that the Regulation for Nigerian Oil and Gas Industry Technology Transfer promotes the development of technology in the Nigerian oil and gas industry through the transfer of technology to Nigeria and to establish guidelines, standard and methods for such technology transfer.
Furthermore, the Regulation for Nigerian Oil and Gas Research and Development provides the requirements and targets for the growth of Research and Development in the Nigerian oil and gas industry.
He stated that “the regulation stipulates the power of the Board to regulate research, supervise Research clusters and Centers of Excellence, Protection of intellectual property, partnership for Research and Development, Implementation of Research findings, and funding of Research and Development.”
Providing more details, Wabote explained that the Regulation for Nigerian Oil and Gas Industry Enforcement and Compliance provides for direct sanctions for breach, without the need to apply section 68 of the Act that would have required a criminal trial.
He stressed that “this regulation addresses failure to submit Nigerian Content Plan, failure to obtain Certificate of Authorization, failure to give First Consideration and comply with minimum Nigerian Content, expatriate quota violations, failure to submit mandatory information and documents, failure to make remittance to the Board on any contract awarded, failure to engage Nigerian legal practitioner firm, failure to retain the services of a Nigerian Financial Institution, Operators liability, the liability of Directors and officers of a company, liability of third parties, and several others.”
Speaking in a panel session on the implementation of the Enforcement and Compliance Regulation, the Head Legal Services Directorate NCDMB, Barr. Naboth Onyesoh explained that regulations are subsidiary legal instruments made by the executive arm of government or by its ministries, departments, and agencies (MDAs) to support the implementation of their enabling law.
He added that Nigerian Content regulations have direct nexus with sections of the NOGICD Act and are designed to support the Board in the implementation of key sections of the Act.
The NCDMB also used the Nigerian Content Seminar to present the Oil and Gas Insurance Guidelines developed in collaboration with the National Insurance Commission (NAICOM), to guide the insurance of assets and liabilities in the oil and gas industry.
Sections 49 and 50 of the NOGICD Act require players in the Nigerian oil and gas activities to engage local insurance companies for insuring their assets and liabilities.
Unveiling the guidelines in company with the Commissioner for Insurance, NAICOM, Mr. Sunday Thomas, the Executive Secretary stated that “the guidelines will contribute significantly towards promoting the development of insurance services in-country and driving the retention of financial spending in Nigeria thereby contributing towards reversing capital flight.
According to him, “the guideline will also help to create a database of all insurance programs procured by operators, project promoters, alliance partners, and Nigerian indigenous companies, to enable the Board to monitor utilization of in-country insurance capacity.”
He emphasized that “any in-country value retention realized from the insurance sector will further enhance the delivery of our 70 percent Nigerian Content target by the year 2027.”
He hinted that the goal of the regulations and guidelines are not to create additional impediments but to create job opportunities and in-country value retention to address threats to our socio-economic stability.
The 2022 NOG conference and exhibition started on Sunday with an invitational golf tournament sponsored by the NCDMB and held at the IBB Golf and Country Club, Abuja. The tournament featured golfers from the oil and gas sector and friends of the industry.
The tournament was the second edition sponsored by the Board and the Executive Secretary stated that the goal was to warm up all attendees to the conference.
He noted that the NOG “is a gathering of all oil and gas practitioners, operators and contractors and stakeholders, so we start the conference with a golf tournament to warm up everybody. The intent is also to bring alive the game of golf, to make it popular among oil and gas workers because they work hard. “We want to encourage them to play golf to keep fit.”
News
NiMet DG/CEO Anosike Tasks Staff On Transparent Processes At 2024 Budget Retreat
NiMet DG/CEO Anosike Tasks Staff On Transparent Processes At 2024 Budget Retreat
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Director General, Chief Executive Officer of The Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, has asked Directors and staff of the agency to ensure strict compliance to budgetary provisions.
Professor Anosike was speaking at the Budget Retreat of the agency on Monday, 6th May, 2024.
While declaring the retreat open, Professor Anosike said; “The NiMet Budget Retreat is fundamental for the new management and staff. It is an opportunity for us to improve our budgetary practices and also to discuss the 2024 budgetary provisions”.
Continuing, Professor Anosike tasked the Directors and senior staff of the agency who participated in the retreat to listen, participate and contribute to the robust discussions.
“Anticipated outcome of the retreat is that all will embrace performance-based budgeting which will lead to transparent and accountable budgetary processes.
This will help management and staff to achieve our set goals during the budget year, in line with the performance bond signed with the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN”, Professor Anosike concluded.
News
ASR AFRICA COMMENCES CONSTRUCTION OF 500-CAPACITY LECTURE THEATRE AND FACILITIES WORTH 250 MILLION NAIRA FOR ADAMAWA UNIVERSITY
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
The Abdul Samad Rabiu Africa Initiative (ASR Africa) commences the construction of a 500-capacity lecture theatre and wash facilities for the Adamawa State University, Mubi.
L-R: Nakama Keri, Multilateral Coordination Specialist, ASR Africa; Dr. Ubon Udoh, MD/CEO, ASR Africa; Dr. Stephen A. Lagu, Ag. Vice Chancellor, Adamama State University; Engr E. B. Filli, Director, Physical Planning & Devt., and Mallam Aminu Aliyu Alkali, Registrar at the Groundbreaking Ceremony in Mubi, Adamawa State.
This project is coming after the nomination of the institution as a recipient of the ASR Africa Tertiary Education Grant Scheme (TEGS), by the Board of Directors of the Abdul Samad Rabiu Africa Initiative.
Speaking at the event, the Acting Vice Chancellor of the University, Dr. Stephen A. Lagu, expressed his appreciation to the Chairman of BUA group and ASR Africa, Abdul Samad Rabiu, for the rare philanthropy gesture towards the university.
He stated that the intervention of the Chairman would reduce the physical infrastructure deficit at their new campus and promote sanitation and hygiene in the university.
L-R: Dr. Ubon Udoh, MD/CEO, ASR Africa and Dr. Stephen A. Lagu, Ag. Vice Chancellor Adamawa State University at the groundbreaking ceremony of the Abdul Samad Rabiu 500-capacity Lecture Hall with other facilities.
He added that the choice of the 500-seat lecture theatre with the four boreholes at different locations within the campus was identified and agreed to by the relevant organs of the institution with the ASR Africa team.
Dr Ubon Udoh (MD / CEO, ASR Africa), in his remarks, congratulated the institution for qualifying for the nomination by the Board of Directors of ASR Africa.
He stated that the rigorous selection process which includes stringent criteria such as the quality of service delivered by the university and the pedigree of graduands from the institution at the national and international levels, proves that the university is keeping up with its vision as a leading institution of learning in the region.
He encouraged the management and students to ensure proper use and maintenance of the facilities as a show of appreciation for the grant given to them.
The Tertiary Education Grant Scheme of the Abdul Samad Rabiu Africa Initiative is part of the efforts of the Chairman of BUA Group and ASR Africa, Abdul Samad Rabiu to give back to the African continent and make a lasting impact in education as a means of uplifting and restoring the dignity and lives of Africans.
About ASR Africa
ASR Africa is the brainchild of African Industrialist, Philanthropist and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based, homegrown solutions to developmental issues affecting Health, Education and Social Development within Africa.
News
Seplat Energy Named Daily Independent’s Indigenous Oil & Gas Company of the Year
… Also Emerges as The Industry’s Sustainable Energy Company for 2023
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Seplat Energy PLC, leading Nigerian independent energy company listed on both the Nigerian Exchange and the London Stock Exchange, has clinched the Daily Independent Newspaper’s Indigenous Oil & Gas Company of the Year Award.
L-R: Publisher, The Niche Newspaper, Ikechukwu Amaechi; General Manager, Finance, Seplat Energy Plc, Adetaiwo Osindero; Manager Corporate Communications, Stanley Opara; and Associate General Counsel Corporate & Compliance, Adebowale Eboda, at the Daily Independent Newspaper Awards, where Seplat Energy was name as the Indigenous Oil & Gas Company of the Year, held in Lagos … recently.
The company was recognised for recording remarkable exploits in the Nigerian oil and gas sector while partnering local communities who are seen and treated as key stakeholders to its operations and overall corporate well-being through inclusive engagement models.
Speaking at the Independent Newspaper Award Ceremony held in Lagos at the weekend, the Managing Director/Editor-In-Chief of the Publication, Mr. Steve Omanufeme, said Seplat Energy was also recognised for its invaluable contributions to the Nigerian economy in many other ways since it was founded, including the supply of natural gas to the domestic market while helping to displace expensive and carbon-intensive oil based power, which dominates Nigeria’s electricity sector.
Omanufeme added: “In all of these, the Company creates direct and indirect employment, while enhancing expertise and technology across the nation’s energy value-chain.
L-R: Head of Marketing, PZ Wilmar, Chioma Mbanugo; Manager Corporate Communications, Seplat Energy Plc, Stanley Opara; and Head of Digital Marketing (B2C) Olam Grains Nigeria, Oladotun Babatunde, during The Industry Summit & Awards, where Seplat Energy emerged as the Sustainable Energy Company of the Year, held in Lagos … recently.
“This award is to celebrate this Company that has stayed committed to its mission of leading Nigeria’s energy transition with accessible, affordable, and reliable energy that drives social and economic prosperity.”
The award ceremony was attended by leaders across industries in Nigeria, regulators, politicians, and other government leaders. Seplat Energy was represented at the event by General Manager, Finance, Adetaiwo Osindero; Associate General Counsel Corporate & Compliance, Adebowale Eboda; and Manager Corporate Communications, Stanley Opara.
In a related development, The Industry Newspaper at its 2024 Summit and Awards, also announced Seplat Energy as the Sustainable Energy Company of the Year whilst its Director, External Affairs & Social Performance, Chioma Afe, was honoured as the 2023 Industry Pathfinder in Sustainability (Corporate).
The Publication noted that Seplat Energy has demonstrated the capacity to be responsible and adhering to the ethics of the business during the period under review.
Responding to the awards by Daily Independent and The Industry Newspapers, Seplat Energy thanked the publications for the recognition and commended them for their display of professionalism, tact and commitment to developmental reportage over the years.
The company thus reemphasized its resolve to leading energy transition in Nigeria with strong focus on the environment, communities and governance frameworks.
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