– Seeks amendment of NOGICD Act
Port Harcourt — Two Bills mandating multinational oil companies and every other multinational firm operating in the country, to appoint qualified Nigerians as their Chief Executive Officers have passed first reading on the floor of the House of Representatives.
The two Bills sponsored by the Member representing Degema/Bonny Constituency in the House of Representatives, Hon. Farah Dagogo, stipulate that any multinational that contravenes it would have committed an offence and be convicted.
The bills are, Multinational Companies Appointment of Chief Executives (Regulatory) Bill, (House Bill 1,933) and Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill, (House Bill 1,934).
The Multinational Companies Appointment of Chief Executives (Regulatory) Bill, when passed into law will guarantee that qualified and capable Nigerians not expatriates, are appointed to head the various multinational firms in the country.
The Bill reads in part, “Without prejudice to the extant Federal Character Commission Act or any relevant applicable legislation, any appointment for the position of Chief Executive Officer of any multinational company shall be reserved for a qualified Nigerian with requisite knowledge, proven integrity, cognate experience and capacity to provide leadership in the industry.”
It warned in Clause 3 that “any multinational company in Nigeria which contravenes the provisions of this Bill through its officers or proxies, commits an offence and shall, on conviction be liable to such penalty as may be prescribed by regulations issued under this Bill.”
On the other hand, the Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill, is expected to make provisions for the appointment of qualified Nigerians as Chief Executive Officers of multinational oil and gas companies operating in the country.
The amended Bill in Clause 5(2) said, “The Board shall implement the provisions of this Bill to ensure a measurable and continous growth of Nigerian Content in oil and gas arrangements, projects, operations, activities or transactions in the Nigerian oil and gas industry.”
Section 70 of the Principal Act is amended by inserting new paragraph (oo) after the existing paragraph (o).
” (oo) ensure effective and strict compliance with the provisions of this bill in respect of appointment of Chief Executive Officers of any multinational Oil and Gas Company operating in Nigeria,” the Bill reads.