A Bill for an Act to Repeal the Nigerian Oil and Gas Industry Content Act No. 2, 2010 and to Enact the Nigerian Oil and Gas Industry Content Act to Establish the Nigerian Content Development and Monitoring Board and to Provide for Legal Framework, Structures and Programmes for the Strengthening of Nigerian Content in the Nigerian Oil and Gas Industry and for Related Matters

Abstract

This Bill seeks to ensure (a) the application of Local Content principles to activities and transactions in Nigerian Oil and Gas Industry; (b) the development of the local capacities and capabilities in the value chain of all the Nigerian Oil and Gas Industry through education, skills transfer and expertise development, transfer of technology and know how and active research and development programmes; (c) the achievement of minimum local employment level and in country spend for the provision of goods and services in the Nigerian Oil and Gas Industry value chain; (d) strengthening of the international competitiveness of Nigerian domestic businesses engaged in activities in the Nigerian Oil and Gas Industry; (e) the achievement and maintenance of control by Nigerians over the economic developmental initiatives and activities in Nigeria; (f) the provision of a robust and transparent monitoring and reporting system to ensure delivery of Nigerian Content policies in the Nigerian Oil and Gas Industry; and (g) supervision and coordination of the implementation and monitoring of Nigerian Content development in the Nigerian Oil and gas Industry.