NNPC Rates Compliance to Nigerian Content Act At 56%
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Dr. Maikanti Baru, has commended the 8th National Assembly over the improved relations between the Corporation and the lawmakers, confirming that there is improvement on the level of Local Content compliance across installations, fabrications, procurement and various level of engineering in the oil and gas industry.
Dr. Baru revealed this during an interactive session between the Management of NNPC and members of the House of Representatives Committee on Local Content at the NNPC Towers in Abuja. “It is indeed a delightful day for me as the Honourable Chairman and members of his committee have exhibited a paradigm shift by coming to NNPC for an interactive session. This shows the improvement of relations between us and the National Assembly and particularly the Committee on Local Content,” Dr. Baru stated.
He noted that within the short period that the Local Content Committee had gone on oversight visit to some Oil and Gas Companies, it had achieved significant progress in ensuring that the lofty ideals of the Nigerian Content Act of 2010 was strictly adhered to.
Dr. Baru informed that NNPC, as the incubator of the Nigerian Content Act, was one of the most compliant organizations in respect of the local content law and had also concerned itself to encouraging all its partners in the Nigerian Oil and Gas Industry to comply with the law.
The NNPC GMD stated that there had been a steady growth in the level of compliance with the law and that as at today there was 56 per cent level of compliance, especially in the area of installations, fabrications, procurement and various level of engineering.
While described the session as a “paradigm shift that would deepen the relations between the National Assembly and the Corporation,” he stressed that a smooth relationship with the legislature was very imperative for progress.
Earlier, the Chairman of the Committee, Hon. Emmanuel Ekon, said the interactive session with the NNPC was informed by the need for a strong synergy in order to ensure full compliance to the Local Content Act to enable Nigerians benefit from the Nigerian Oil and Gas Industry.
He said: “We intend to amend the act so as to extend it to other sectors of the economy. We want to work as partners and not confront the executive. We believe by so doing, Nigerians will gain more.” Ekon said.