The Nigerian Content Development and Monitoring Board (“NCDMB”) recently disclosed that it has concluded its engagements with stakeholders in the Nigerian oil and gas industry (the “Industry”) regarding the introduction of the Nigerian Content Ministerial Regulations (the “Regulations”).
The proposed Regulations are expected to include the following considerations:
- Research and Development;
- Training and Capacity Development;
- Growth of Indigenous Capacity;
- Nigerian Oil and Gas Industry Enforcement and Compliance Regulation;
- Registration of Operators and Other Professionals with Nigerian Professional Bodies; and
- Technology Transfer and Establishment of Operations in Nigeria.
It is expected that the Regulations will facilitate the implementation of the Nigerian Oil and Gas Industry Content Development Act, 2010 towards the promotion of Nigerian content in activities within the Industry.
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