NCDMB pushes petroleum companies to adopt online platform to boost international standing

The Nigerian Content Development Monitoring Board is calling on oil and gas industry stakeholders to adopt its newly launched digital platform, which aims to boost efficiency, transparency, innovation, and global competitiveness in the sector.

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This appeal was made by Felix Ogbe, the Executive Secretary of the NCDMB, on Wednesday in Uyo, Akwa Ibom State, during the unveiling of the platform, where he was represented by Emmanuel Yusuf, the Manager of NCDMB.

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Ogbe emphasized that the platform's success relies not only on its design but also on the collective engagement and adoption by industry stakeholders.

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The launch event, a collaborative effort with the Bank of Industry and the Nigerian Export-Import Bank, featured a technical session and an interactive panel discussion with stakeholders from Akwa Ibom and Cross River states.

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At the stakeholders' sensitisation programme, themed "Compliance Certificate System, Upgraded NCDF Payment Portal and the Revised Community Scheme," Ogbe noted that compliance confirmation in the oil and gas industry had long been a manual process, resulting in delays that could last weeks.

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This manual process had slowed project approvals, created uncertainty, and limited transparency for regulators and investors, but the new portal is expected to make the process faster, simpler, and more transparent.

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Ogbe expressed pride in the official unveiling of the Nigerian Content Fund Compliance Certificate Portal, a significant step towards ensuring efficiency, transparency, and global competitiveness in Nigeria's oil and gas industry.

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The portal is designed to reduce certificate processing time from weeks to days, enable online applications without physical visits or paperwork, and provide instant status updates, thereby eliminating uncertainty.

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By digitising the process, the portal enhances access to the Fund, allowing companies that meet obligations to obtain certificates quickly and unlock financing opportunities without delay.

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This, in turn, enables companies to channel resources into projects that create jobs, build capacity, and strengthen Nigeria's oil and gas value chain.

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For operators and contractors, the portal means faster access to funding, while regulators will benefit from stronger oversight and improved data collation, and investors will have increased confidence in the industry.

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Ogbe stated that the launch of the platform sends a clear message that Nigeria is ready, its systems are evolving, and the oil and gas industry is becoming more efficient, transparent, and competitive on the global stage.

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He encouraged all stakeholders to adopt the platform, as its success depends on collective engagement and adoption.

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Ogbe described the Nigerian Content compliance certificate as a vital requirement in the industry, as specified in the Nigerian Oil and Gas Industry Content Development Act.

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The Act requires that one per cent of every contract awarded should be deducted at source and paid into the fund, with the certificate serving as proof of compliance and a key requirement for accessing the Fund.

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Representatives of the Bank of Industry and NEXIM Bank pledged their support for vendors and the operations of the NCDMB to ensure the success of the initiative.

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Mrs Olamide Oladele, representing the Bank of Industry, explained the various financing opportunities available to indigenous businesses operating in the oil and gas industry.

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Oladele stated that with the launch of the new portal, the bank is ready to provide finance to support businesses in the oil and gas industry.