A Review of the Nigerian Energy Industry

Wabote calls for action on gas; plans investment in the value-chain

*Simbi Kesiye Wabote.

*To sign MoUs with investors on NOGAPS

OpeOluwani Akintayo

21 October 2018, Sweetcrude, Lagos — The Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Engr. Simbi Wabote has urged players in the gas sector should canvass for speedy implementation of existing policies and pursue the delivery of identified gas opportunities,

He spoke in Abuja at the Nigerian Gas Association’s 2018 International Conference held recently and argued that there had been sufficient discussions on missed opportunities of the past years and huge subsisting potentials of gas to the Nigerian economy.

Members of the NGA and other stakeholders of the oil and gas industry must begin to pick up the gauntlet, he posited.

“I implore you to make this happen. It does not have to be a gigantic, big bang project that overwhelms everybody and does not get delivered at the end of the day. Let’s take one or two aspects of the value chain and channel all energies on them so that in two years’ time we are here to celebrate value addition to our hydrocarbon resources.”

The Executive Secretary said NCDMB had begun to implement some of its initiatives, citing an example with the US$200m Nigerian Content Intervention Fund, managed by Bank of Industry for the provision of loans to oil and gas service providers at single digit interest rates for the acquisition of key assets, manufacturing and other activities.

Another ongoing initiative is the Nigerian Oil and Gas Parks Scheme, NOGAPS currently under construction in Bayelsa and Cross River states. “The parks will be operated using the sites and service model with provision of electricity round the clock to enhance manufacturing activities,” he added.

Wabote affirmed that the NCDMB would be willing to support any investor willing to deepen local content practice in the gas value chain.

According to him, “part of our 10-year strategic roadmap is to support credible proposals from local businesses that want to key into opportunities in the hydrocarbon value chain. Let’s move beyond talk into action. Our recent deal to support the construction of a 5,000 barrels per day modular refinery was done in less than six months.

“If you are interested in manufacturing of cylinders, clips, hoses, burners, regulators, lighters, or in the provision of other services in the gas value chain, please approach the Bank of Industry with your applications. A key requirement is that you must be a contributor to the Nigerian Content Development Fund.”

Dwelling on NOGAPS, the NCDMB boss invited interested investors to liaise with the Board on how to participate in the scheme. He hinted that the Board would sign Memorandum of Understanding with such investors before the end of 2018 and early birds would enjoy the first mover advantage.

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