Nigeria Increases Local Content Fund to $200m

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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, Monday said the agency had obtained all necessary approvals to relaunch the Nigerian Content Intervention Fund (NCI Fund) and had increased the pool available for lending to qualified oil and gas players from $100 million to $200 million.

This, he said, was to increase the opportunities for more deserving companies to benefit from the fund.

He spoke in Lagos just as Dangote Refinery said it would select competent Nigerian vendors that would participate in the construction of its plant from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), the database of available capacities in the oil and gas industry managed by the NCDMB.

The Chief Operating Officer of Dangote Refinery, Mr. Giuseppe Surace, made this commitment at a recent technical meeting held between top officials of the company and the NCDMB at the refinery project site in Lekki, Lagos State.

“We will procure anything that is available in Nigeria,” Surace said. He added that there were several Nigerian Content opportunities in the company’s refinery and gas gathering projects, stressing that interested companies must submit competitive bids and have technical capabilities.

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