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Monday, 13 September 2010 12:38

Jonathan Worries Over Low Participation in Oil Industry

By Hamisu Muhammad

LAGOS, Nigeria, September 13, 2010 (Daily Trust) - President Gooodluck Jonathan has challenged Nigerians to participate in the Oil and Gas Industry in order to tap its benefits fully.

 

He said at the inauguration of the Governing Council of the Nigerian Content Development and Monitoring Board that Nigerians need to change their mindset from the burden of thinking that they cannot do great things, to embrace a new "can-do" spirit in pursuit of high quality.

 

The President directed members of the Governing Council to enforce strict compliance of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and ensure that Nigerian Content counts in all operations of the Oil and Gas Industry.

 

He said: "We must change our mindset from the burden of thinking that our people cannot do great things, to embrace a new can-do spirit in pursuit of high quality and global standards of performance required in the oil and gas industry.

 

"We must embrace the same can-do spirit that has seen our Telecom and Banking sector reforms succeed; the same can-do spirit that will see us complete our Power sector and Electoral reform agenda successfully."

 

He explained that the NOGICD Act he signed into law on April 22, 2010, which created NCDMB, with a professional Governing Council can propel Nigeria into becoming one of the world's industrialized economies in the next decade.

 

He said the Petroleum Industry Bill which will soon be passed by the National Assembly will restructure the regulatory framework of the Oil and Gas industry and introduce improved funding and commercial focus for the industry, while the Nigerian Gas master-plan will drive increased investment in the energy sector.

 

The Governing Council has a four-year tenure and is chaired by the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke.

 

Others members are Mr. Shawley Coker, representing Petroleum Technology Association of Nigeria, Mr. Emmanuel Bekee, representing the Technical Regulator of the industry and Dr J.T Dawha, representing Nigerian National Petroleum Corporation.

 

Others are Engr. A.O Ajibola, representing Council of Registered Engineers of Nigeria, Prof. Mike Onyekonwu, representing Nigerian Content Consultative Forum, Dr Sani Shuaibu representing the Ministry of Petroleum Resources, Mr. Fola Daniel, representing National Insurance Commission and Engr. Ernest Nwapa, the Executive Secretary of NCDMB and Secretary of the Governing Council.

 

In her speech, the Minister of Petroleum Resources Mrs. Diezani Alison-Madueke noted that effective implementation of the act will ensure that the Nigerian economy will within the next four years retain over $10 billion out of an average annual Oil & Gas Industry expenditure of $20 billion compared to the current sum of less than $4 billion.

 

 
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