NCDMB lauds introduction of Nigerian Content Investment Forum in Houston, Texas

…Tasks OEMs on investment in Nigeria’s oil industry 

Oscarline Onwuemenyi 25 November 2015, Sweetcrude, Abuja – Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Mr. Denzil Kentebe, has lauded the initiation of the Nigerian Content Investment Forum, NCIF, for its efforts to boost investment in the nation’s oil and gas industry.

NCIF-logoKentebe, who spoke in Abuja when he hosted officials from the Houston Mayor’s Office of International Trade and Development, said the government has various incentives to encourage Original Equipment Manufacturers, OEMs, to invest in the country.
The Nigerian Content Investment Forum, which held for the first time at the sidelines of the Offshore Technology Conference, OTC, in Houston, Texas, in May this year is an initiative of SweetcrudeReports, sponsored by NCDMB and aimed at promoting direct investment in the Nigerian oil and gas industry.
The NCDMB boss explained: “We are promoting the Nigerian Content Investment Forum to attract investors to set up facilities for manufacturing and services connected to oil and gas industry activities in Nigeria.
“Conscious of the growing size of the Nigerian population in Houston and the eminent position of the city as the largest collection of oil and gas Original Equipment Manufacturers (OEMs), we launched the maiden NCIF at the Houstonian in Houston, Texas on 4th May 2015.”
Kentebe pointed out that the areas of interest for the NCIF is to encourage OEMs’ involvement in the manufacture and services of instrumentation and automation, valves, flanges and connections, brackets, switch gears, well tools, panels, clamps, gaskets, pumps, seals, equipment assembly, services & testing etc.
According to him, location of oil and gas parks in Bayelsa, Imo and Cross River states were “carefully selected to confer access to required electricity, water (for cheap transport of raw materials and finished goods) and gas (to power operating equipment). This will enhance competitiveness  of goods manufactured (price, quality and schedule).”
He added that NCDMB is directly funding land acquisition and provision of primary infrastructure (road network, fence, security post), adding that “this will reduce startup cost for the OEMs.”
He added, “OEMs are required to form partnerships with local SMEs in this venture. This, coupled with the fact that goods produced are classified as locally made would  enhance compliance with Local Content Requirement, LCR, for supply of goods
Furthermore, he said, investment in Nigeria will provide access to a vast local market (10th largest proven reserves in the world ) and the African market.
“The Federal Government is implementing Nigeria Industrial Revolution Plan (NIRP), which seeks to increase contribution of manufacturing to GDP from current 4% to 10%. Incentives are in place to ease operations of the OEMs,” he stated.
Speaking earlier, the representative of the Mayor and Council Member at Houston’s Mayor Office of International Trade and Development Africa Division, Ms. Linda Anukwuem, said based on the success of the maiden Nigerian Content Investment Forum in Houston, the Mayor’s Office was already reaching out to more OEMS in the Greater Houston area to participate in subsequent fora.
She said the delegation was in Nigeria to seek for better collaboration, noting that the despite oncoming elections this year, the Houston Mayor’s Office was determined to enhance cooperation and boost development of mutual investments with the Nigerian oil and gas industry.


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