Nigeria’s Petroleum Minister Advocates for Nigerian Content to Fulfill Renewed Hope Agenda

by Oluwatosin Racheal Alabi

Lagos, October 12, 2023 – Senator Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum Resources, emphasized the importance of executing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010. According to Lokpobiri, this Act stands as a pivotal instrument in realizing President Bola Tinubu’s Renewed Hope Agenda.

Lokpobiri shared these insights during a recent visit to the Nigerian Content Development and Monitoring Board (NCDMB) facilities in Bayelsa State. The NCDMB promotes local value addition in the oil and gas industry. They also champion local manufacturing, develop human and material resources, and create jobs. Lokpobiri commended these goals, recognizing them as crucial pathways aligning with the objectives of the current government.

The Nigerian Content Intervention Fund (NCI Fund) caught Lokpobiri’s attention as an exceptional initiative by the Board. Administered by the Bank of Industry (BOI), the NCI Fund aims to address one of the sector’s most pressing challenges: providing emerging oil and gas enterprises with affordable finance. By assisting these companies, the Fund hopes to foster growth, enhance capabilities, and generate employment opportunities.

Following a detailed overview of the Nigerian Oil and Gas Park Scheme (NOGaPS) at Emeyal 1, in Ogbia Local Government Area, Lokpobiri praised the project. He believes it can revolutionize Nigeria’s efforts to boost local manufacturing in the oil and gas sectors and create jobs.

SEO Tags: Nigeria, Petroleum Minister, Heineken Lokpobiri, NOGICD Act 2010, Renewed Hope Agenda, Bola Tinubu, NCDMB, Nigerian Content Intervention Fund, NCI Fund, Bank of Industry, BOI, Nigerian Oil and Gas Park Scheme, NOGaPS, Emeyal 1, Ogbia, local manufacturing, job creation.

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