By Abiola Olawale
The Nigerian Content Development and Monitoring Board (NCDMB) has formally established a collaborative agreement with the Petroleum Commission, Ghana (PCG).
The New Diplomat checks show that this strategic partnership is focused on the advancement and reinforcement of local content regulations amongst the two friendly countries upstream petroleum sector.
The signing ceremony took place on the sidelines of the 2024 Annual Local Content Conference and Exhibition held at Takoradi, Ghana.
The agreement has a three-year validity and is focused on fostering synergies through the exchange of information and the transfer of mutually beneficial skills.
NCDMB is anticipated to provide PCG with strategic advice and guidance in various areas, including laws, frameworks, knowledge transfer, procedures for baseline studies, data collection on existing capacities in Ghana, as well as the development of strategic plans for local content implementation in Ghana and other capacity development initiatives.
Also, NCDMB will offer technical support in the development of the framework for the formulation of regulations and policies for PCG Local Content laws.
Present at the signing ceremony are the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, represented by the Director of Monitoring and Evaluation, Mr Abdulmalik Halilu, and the Director of Legal Services, NCDMB, Mr Naboth Onyesoh, Esq, while the Executive Secretary/Chief Executive Officer of Petroleum Commission, Ghana, Mr Egbert Fabille Jrn and the Acting General Counsel, Nana Akua Agyei signed on behalf of their organisation.
Speaking at the ceremony in Ghana, the Executive Secretary of NCDMB, Ogbe urged African oil and gas service companies to collaborate among themselves and leverage their unique capabilities and capabilities.
According to him, this approach would grow African local content sustainably and help meet the aspirations of the African Continental Free Trade Area (AfCFTA).
Reflecting on NCDMB’s achievements, Ogbe noted significant progress in local content development, with an increase from less than 5% in 2010 to 54% in 2023, attributing the growth to the robust NOGICD Act, strategic implementation by the Board and collaboration by industry stakeholders.
He further highlighted the importance of economies of scale in attracting new investments and optimizing capacity utilization in the Exploration and Production (E&P) value chain.
The New Diplomat reports that NCDMB was established in 2010 by the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and is mandated to monitor, guide, develop, and promote local content practice in the Nigerian oil and gas sector and linkage sectors.
On the other hand, the PCG was established by the Petroleum Commission Act, 2011 (Act 821) to regulate and manage the utilization of petroleum resources and coordinate the policies in the upstream petroleum sector under the laws of the Republic of Ghana.
