OpeOluwani Akintayo 06 December 2018, Sweetcrude, Lagos — The Nigerian Content and Development Monitoring Board, NCDMB has listed the wrap-up…
Browsing: Nigerian Content Intervention Fund
OpeOluwani Akintayo 07 October 2018, Sweetcrude, Lagos — The Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB, Simbi Wabote…
Mkpoikana Udoma 16 March 2018, Sweetcrude, Port Harcourt — The Nigerian Content Development and Monitoring Board, NCDMB, has announced that…
He said, “The intervention fund has all-in single digit interest rate of eight percent for loans extended to Nigerian Oil and Gas Service providers and all-in single digit interest rate of five percent for loans extended to community contractors.”
“Over the years, Nigerian companies have found it difficult competing with their counterparts from jurisdictions where funding is accessible for 5% or less as compared to our market where bank lending rates hover around 20%,” he said.
He affirmed that there were many advantages in patronizing the local market, adding, “Nigerian companies will get the first right of refusal. We will procure anything that is available in Nigeria.”
The intent is to promote the participation of genuine community contractors in oil and gas projects and integration of communities in the industry value chain as part of the strategy to grow the local economy and promote peace and tranquility in the communities.
Admitting that the company had defaulted in complying with some provisions of the Act in the past, McGrath who was appointed in March 2017 assured that the oil giant would henceforth comply with all provisions of the Act alongside associated regulations.
19 December 2016, Lagos – As some upstream companies operating in Nigeria’s oil and gas industry are concerned about the…
Chuks Isiwu 20 July 2016, Sweetcrude, Lagos – The Nigerian Content Development and Monitoring Board, NCDMB, and the Bank of Industry,…
