Nigeria Launches Portal to Boost Oil and Gas Compliance
The Nigerian Content Fund Compliance Certificate portal was launched by Emmanuel Yusuf, Managing Director of the Nigerian Content Development Fund (NCDF), in Uyo during a sensitisation programme organized by the Nigerian Content Development and Monitoring Board (NCDMB). This initiative aims to position Nigeria’s oil and gas upstream industry on the global stage by providing a digitized process that enhances efficiency, transparency, and competitiveness.
The portal will expedite compliance confirmation, reducing processing time from weeks to days, allowing online applications, and providing real-time compliance verification. It addresses challenges associated with the manual compliance process, which required a one percent payment of every contract awarded in the upstream sector as mandated by the Nigerian Oil & Gas Industry Content Development Act.
The initiative has already transformed the industry, increasing Nigerian Content to over 60 percent and supporting over 130 indigenous companies with more than $400 million.
Plus234Feed summary based on reporting from Daily Trust. Read the original report below.
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