25 August 2017, Sweetcrude, Lagos — The Nigerian Content Development Monitoring Board, NCDMB, Thursday, said it has set up an initiative to develop the capabilities of indigenous companies, ensuring that local companies manage the operations and maintenance of the Dangote Refinery when construction work is completed.
Executive Secretary of NCDMB, Mr. Simbi Wabote, stated this at the signing of the Memorandum of Understanding (MoU) on the implementation of the $200 million Nigerian Content Intervention Fund, NCIF, between the Bank of Industry, BoI, and the NCDMB.
He maintained that the Dangote Refinery project needs all the support it can get to make it succeed, both in the ongoing project execution phase and with subsequent operational phase.
He said, “We have agreed to provide a list of Nigerian companies with capacities for patronage by Dangote Refinery for the development of the project to meet cost schedule, timelines.
“Similarly, a compendium of ancillary businesses required to sustain operations on the refinery would be developed for interested entrepreneurs, so that the 650,000 barrels per day refinery promise can be met, while maintenance operations phase of the plant would be supported by capabilities within Nigeria.”
He further explained that the NCDMB has keyed into the drive by the Honourable Minister of State for Petroleum Resources, to put a stop to the importation of petroleum products.
According to him, in the NCDMB, the strategic initiative is to achieve 100 percent local fabrication of modular refineries.
“We have commenced discussions with OEMs, local fabricators to make this a reality. We have set aside areas in our oil and gas scheme for practical training on operations, maintenance and running of modular refineries as a sustainable business model and for fabrication of the units,” he added.
Wabote said the NCIF is one of the steps the NCDMB is taking to address the funding challenges in the industry, adding that in addition to the single digit, all interest would be at eight per cent for loans extended to manufacturers for assets acquisition and interest of five per cent for community contractors.