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NCDMB may seek inclusion of power, ICT, others in local content policy

Considering what it may wish to tag success rate in the oil and gas sector, the leadership of the Nigerian Content Development and Monitoring Board (NCDMB), may approach the National Assembly to seek amendments that will bring in more sectors.

Some of the sectors being targeted in the review of the Local Content Act 2010, include but not limited to power, construction and information and communications technology (ICT).

The Board linked the new move to the observed level of control by foreign companies across sectors of the nation’s economy in terms of deep pocket jobs and services.

According to NCDMB, “If the extant law is expanded, nothing less than 40 per cent of projects would be executed by local contractors, who would boost local capacity, and promote the use of local materials and services for the development of these industries.

Giving further insights in Abuja at a conference, the Executive Secretary of NCDMB, Simbi Wabote, said the agency has concluded plans to pursue the process for amendment of the Act with the ninth National Assembly to drive local content in other sectors of the economy.