Reps to extend local content policy to construction, ICT, others

House of Representatives

The House of Representatives at the weekend disclosed that the local content policy in the oil and gas industry would soon be extended to other sectors.

The Chairman, House Committee on Local Content, Emmanuel Ekong, disclosed this at the headquarters of the Nigeria Content Development and Monitoring Board (NCDMB), in Yenagoa, the Bayelsa State capital.

He explained that the policy would be extended to the construction, telecommunications, power and the information and communication industries.

The lawmakers also visited the permanent site of NCDMB’s ongoing 17-storey office complex and the Polaku Pipe Mill in Gbarain.

He said the proposal was to ensure that Nigerians participate in the sectors that were being dominated by foreigners.

He stressed that when implemented, any violation in the oil and gas industry would not be go unnoticed.

The lawmaker urged all key players to embrace the policy, which would encourage the sectors to employ Nigerians.

“The multinationals must patronise local professionals, including the Central Bank of Nigeria (CBN) which is using foreign construction engineers in the building of its headquarter’s office complex.

“We want the multinationals to remit one per cent of their funds as enshrined in the law,” adding that “the bill has passed the first reading and we are waiting to do some legislative fireworks to fine-tune it for the president’s assent before the end of this year,” he said.

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CBNEmmanuel EkongNCDMB
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