NOAC JV trains contractors on capacity building, regulations

…As NCDMB rues $380 billion loss to capacity deficit
As part of efforts to to develop the capacity of Nigeria-owned companies and contractors to activately participate in the oil and gas industry, the Nigeria Agip Oil Company (NAOC) and its Joint Venture partners on Monday, commenced capacity training for indigenous contractors in the Niger Delta.
The two-day program which commenced on Monday was part of the oil giant’s capacity building program to stir its contractors from the dangers of flouting government regulations and non-adherence to extant laws.
This as the Nigeria Content Development and Monitoring Board (NCDMB) disclosed that the country had lost a whopping $380 billion to capital flight due to lack of capacity by Nigerians operating in the oil and gas sector.
NCDMB Executive Secretary, Simbi Wabote, said the inability of the country to take a deep look at its potential led to capital flight of $380 billion, job losses to foreigners and an abysmally low participation of Nigerians in the industry.He added: “Nigerian content was only 5 percent. Today, we have achieved 28 percent local content retention, increase in capacity, and engineering capability, fabrication among others.”
Wabote,reoresented by Patrick Obah, Director, Planning,Research and Statistics at NCDMB, in his remark at the training, said for Nigeria to surmount the current challenges, said a 10-year strategic plan was already in place to increase local content in the oil and gas industry from the current 28 percent to 70 percent by 2027
The traing program put up by NAOC, the Nigeria National Petroleum Corporation (NNPC) said it had become important to ensure that contractors adhere strictly to the laws to avoid legal issues arising from acting improperly in the course of doing business.
NAOC’s Vice Chairman/Managing Director, Mr Lorenzo Fiorillo, while declaring the workshop open, said the JV was aimed at developing the capacity of Nigerian-owned companies to actively participate in the oil and gas industry and help the Nigerian government achieve the objectives of its local content laws.
He said, “These workshops are therefore to further demonstrate our strong commitment to Nigerian Content Development through the implementation of various activities and partnership that support and enhance the attainment of the Board’s all.objectives.”
He added that the workshop would address gaps in various competencies for business growth, noting that Agip and its joint partners were committed to deepening the capability of all stakeholders.
“Nigerian companies will be equipped with knowledge and best practices required to close the gaps in their understanding of relevant regulations in the contracting and procurement process in the Nigerian oil and gas industry,” Fiorillo, who was represented by Alessandro Tiani, General Manager District, said.
He said the launch of the $200million intervention fund with an interest rate of eight percent for local contractors would provide support for local contractors in the industry.
Also, Chief Executive Officer Oando, Mr Wale Tinubu, who was represented by Adeyemi Oreagba, Head Government and External Relations of the company, said Oando would continue to support community-based companies doing business in the country.