President Bola Tinubu.

The Federal Government has been speaking on the reasons why President Bola Tinubu approved the appointment of new members into the Governing Council of the Nigerian Content Development and Monitoring Board NCDMB, insisting that the new appointments were designed to fill existing vacancies and strengthen the Board’s regulatory capacity.

Recall that the President had recently approved the nomination of four new members to the Governing Council of the NCDMB. The newly approved nominees include Mr. Olusegun Omosehin of the National Insurance Commission NAICOM and Engr. Wole Ogunsanya of the Petroleum Technology Association of Nigeria PETAN.

Also approved by President Tinubu were the nomination of Mazi Sam Azoka Onyechi represent the Nigerian Content Consultative Forum NCCF, and Barrister Owei Oyanbo, who represents the Ministry of Petroleum Resources.

The Federal Government had argued that in addition to the need to replace some institutional representatives, who had exited the Governing Council, the new appointments were designed to strengthen the regulatory capacity of the Board in line with the changing dynamics of the oil and gas industry.

The President had charged the new members to leverage their expertise and dedication to enhance local content development within Nigeria’s oil and gas industry in view of its changing dynamics.

Established under section 69 of the Nigerian Oil and Gas Industry Content Development NOGICD Act, 2010, the NCDMB Governing Council is made up of representatives from key institutions. They include the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission NUPRC, and the Nigerian National Petroleum Company Limited NNPCL.

Others include the Petroleum Technology Association of Nigeria PETAN, the Council for the Regulation of Engineering in Nigeria COREN, the Nigerian Content Consultative Forum NCCF, and the National Insurance Commission NAICOM.