A Review of the Nigerian Energy Industry

NCDMB allays operators’ fears over falling oil prices

Kunle Kalejaye 22 January 2015, Sweetcrude, Lagos – With no end in sight yet to the rapidly falling oil prices, the Nigerian Content Development and Monitoring Board, NCDMB,  has urged both International Oil Companies, IOCs, and indigenous players in Nigeria not to panic but to be more innovative in their effort to get past the troubling time.
Ernest Nwapa

Executive Secretary of the NCDMB, Engr. Ernest Nwapa, who made this known at the ongoing 19th edition of the Offshore West Africa Conference in Lagos, explained that it will be inappropriate to reduce the local content scope during this period.

The NCDMB boss hinted that some Nigerian oil companies were already requesting for the reduction of local content scope because of the huge financial implications ‎during this time of oil price fall.
He therefore urges operators not to panic but be more innovative and to allow the Local Content Act to thrive.


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