Why Do I need a Nigerian Content Department as a Nigerian Company? ::PART 1

Why do we need a Nigerian Content Dept. as a Nigerian Company?

From the passing into Law of the NOGICD Act on 22^nd April, 2010, Nigerian Content targets have been strongly driven by the NCDMB with the Operators (International Oil Companies) as the first on the food chain, to the Contractors who are made up of mostly service companies which are mostly foreign companies or partnerships with indigenous firms as the case may be, and at the bottom of the food chain we have the Sub-Contractors. These are majorly Nigerian Companies rendering direct services based on their level of expertise.

In view of the above scenario, a reoccurring question that comes from the last group of this food chain which is solely made up of Nigerian Companies is;

“Why do we need a Nigerian Content Department, while we are Nigerian owned companies?”

From the lay man point of view this sounds indeed logical, but taking a different point of view let’s ask ourselves the following questions:

1) Are we supposed to be considered as laymen on this subject?

2) What are the benefits of the implementation of the NOGICD Act to the Nigerian Companies as driven by NCDMB?

3) How old is the NOGICD Act?

 Let’s stop here for now and provide answers;

1) In reference to the above subject we can not to be considered as laymen, being a Nigerian it is part of your social responsibility to be fully conversant with your rights in every sector you function.

2) To list a few, the implementation of the NOGICD Act, 2010 has benefited the Nigerian Companies in the following ways;

a. Ensured direct domiciliation of specific work packages in-country.

b. Ensured first consideration is given to Nigerian Companies in all activities in the Oil and Gas industry

c.  Ensure Nigerian companies are directly supported in bid evaluation

3) The NOGICD Act, 2010 has been in existence for the past four years.

 To be continued......