BUSINESS
NCDMB Targets 3,000 Jobs With $200 Million Intervention Fund
The Executive Secretary, Nigerian Content Development and Monitoring Board, Mr. Simbi Wabote, has said the recently launched $200 million Nigerian Content Intervention Fund is targeted at deepening local content participation in the oil and gas industry in the country.
Wabote, who made this known on Monday at a news conference in Yenagoa, Bayelsa State, also said that as part of the NCDMB’s 10-year strategic plan, the board hoped to create over 3,000 jobs in the country, including indirect employment.
The executive secretary, according to agency report, explained that since the Local Content Act was enacted in 2010, the oil and gas sector had witnessed tremendous growth in terms of what the country had been able to draw back and domicile locally.
Wabote said, “Prior to the enactment of the Act, out of about $20 billion, which the industry was spending in its annual activities, less than three per cent remained in the country, while the rest was taken out.
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