The Nigeria Content Development Monitoring Board has stated that the ultimate engagement of ministries, departments, and agencies of the government is for it to achieve its strategic goals as the drive for local content strengthens its tentacles in the oil and gas industry and continues to gain speed.
In order to bolster its desire for the sector-wide application of the Nigerian Oil and Gas Industry Content Act, the Board has also pleaded for the understanding and assistance of the insurance industry.
At the 2023 Oriental News Nigeria conference in Lagos, with the theme “Building Local Content Synergy between the Oil and Gas and the Insurance Sector in Nigeria,” the Board’s Executive Secretary, Simbi Wabote, made the call.
She noted that the Board has taken deliberate steps over the years to forge collaboration with a variety of crucial stakeholders to support the achievement of its strategic goals and mandate.
Wabote, who was represented by the Director, of Corporate Services of NCDMB, Mr. Daziba Patrick Obah, claimed that one of the key enablers to the Board’s ten-year strategy roadmap intended to attain 70% Nigerian content performance by the year 2027 is stakeholder involvement and collaboration.
She noted that the Board has taken deliberate steps over the years to forge collaboration with a variety of crucial stakeholders to support the achievement of its strategic goals and mandate.
He claimed that in order to ensure the achievement of its strategic goals, NCDMB and several MDAs, including the National Insurance Commission, engaged in a variety of engagement and collaboration activities. These activities culminated in the joint publication of the Insurance Guideline in 2022 to support the implementation of the insurance requirements contained in Sections 49 and 50 of the NOGICD Act 2010.
“In order to deliver effective public services, it is important for government agencies to work together. This helps to align areas of strength, improve decision-making, share resources, take advantage of opportunities, and gain a better understanding of the problems and difficulties associated with implementing policies.
“As a result, both the country and its residents stand to gain greatly from this because it makes it possible for cooperating agencies to comprehend and meet Nigerians’ wants and aspirations. At NCDMB, we understand how crucial it is for government agencies to work together and effectively with other stakeholders in order to carry out our statutory duty.
“The performance of the insurance industry is likewise subpar, particularly in comparison to the oil and gas industries, for a variety of reasons,” Wabote noted.
