Monday, 27 July 2015


The Nigerian Content Development Monitoring Board (NCDMB) has told the oil and gas industry stakeholders to build additional local capacities which will stop capital flight. According to NCDNB, there are laudable projects stakeholders could embark on to create thousands of employment opportunities for Nigerians and end capital flight. Tectono Business Review got to know this development when the board’s Executive Secretary, Mr. Denzil Kentebe, made it known when he unveiled the spool yard for Glass Reinforced Epoxy (GRE) pipes of Bell Oil and Gas Limited in Port Harcourt.

According to Mr. Kentebe, the spool yard, which is the first of its kind in Nigeria and Africa, is worth more than $4m and will help to provide immediate solutions to numerous onshore and offshore oil and gas projects.

The NCDMB boss that said the GRE pipe had the capability of creating thousands of employment for Nigerians and putting to an end capital flight in the oil and gas industry.
He noted that the job creation opportunity and in-country capacity building for the spool yard was documented and recorded with the training and certification of over 70 Nigerian engineers in the last 24 months.

He said: “In the last 54 years of oil exploration in Nigeria, if in every 24 months we have been training 70 Nigerians, you know how many Nigerian engineers we would have produced today in the oil and gas industry. But this is the beginning, and I am sure with the support of the NCDMB and industry operators, Bell Oil and Gas will continue to make us proud.”

Mr. Kentebe also noted that a lot of restiveness in the Niger Delta region and insecurity issues would have ended if each oil and gas company had been training at least 70 Nigerian every 24 months.