Nigeria’s Content Act To Cover Power Sector

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The House of Representatives has assured Nigerians hat work has begun on the bill that would extend the Nigerian Content Act to other key sectors of the economy such as power, construction, information communication technology and telecommunications. This was announced by the Chairman of the committee of local content, Hon. Emmanuel Ekon who stated this when the committee paid an oversight visit to the Nigerian Content Development and Monitoring Board’s (NCDMB) premises and project sites in Yenagoa, Bayelsa State.

The Committee chairman said the first reading on the bill to extend the Nigerian Content Act to other key sectors has been passed, adding that the House members currently are fine tuning it. “I believe the bill will be passed this year,” Ekon added. He noted that violation of Local Content Act was more prevalent in the construction sector than the oil and gas sector.

The committee commended the NCDMB for its diligent implementation of the Nigerian Content Act, speedy execution of its headquarters building and the Polaku pipemill projects located in Bayelsa State. Speaking at the Polaku pipemill site, Ekon stated that the location met all requirements for citing such a facility including proximity to natural gas needed to generate electricity for the plant’s operations, access to road, which is a driver for transporting raw materials and finished products.

He dismissed insinuations that the Board was acting beyond its mandate by promoting the pipemill, insisting that the Nigerian Oil and Gas Industry Content Development (NOGICD) Act empowered the Board to woo investors and prepare locations especially difficult terrains so that prospective investors would be convinced to commit their funds.

After the tour around the premises, Ekon promised that the House of Representatives would pass the bill extending the Nigerian Content Act to other key sectors of the economy so that Nigerians will enjoy the benefits. He also hailed the Board and its main contractor, MegaStar, for the speedy execution of the building project.

Read More: Senator Dino Maleye Calls For Review Of Power Sector Tariffs

“I was here when this land was acquired in 2015. Then, this place was bare ground. It’s not even up to two years and eight floors are already standing. We need to sell construction companies like this because it is 100 per cent indigenous. This company has invested resources in machines, personnel and construction equipment. Nigerians, multinationals and the Federal Government should patronise these kinds of companies,” he said

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About Tomide Adeyeye 429 Articles
Federal University Of Technology (FUTA) Alumnus. I am constantly overwhelmed by the power of the written word and how it can transcend genres, stereotypes, and even time itself. This fascination drives my passion for writing.

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