The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, during a virtual event on February 24, 2021, inaugurated a group of 40 companies into the board’s Project 100 program.
The 40 companies were selected from 609 applications that were received in this second phase of the initiative. Project 100 was started in 2019 with the goal of building up 100 indigenous oil and gas firms in Nigeria, giving them a more advantageous standing in the country’s energy sector.
Wabote said that the success of Project 100 — which opened with 60 companies in its first phase in January 2019 — would increase the contributions of local companies to Nigeria’s GDP, create employment and industrialization opportunities, as well as reduce imports into the country.
NCDMB’s General Manager, Research, Statistics and Development, Abdulmalik Halilu, confirmed that the new 40 beneficiaries, chosen from the Nigerian Oil and Gas Industry Joint Qualification System (NOGICJQS), were selected through a transparent two-phased process, adding that the firms are owned by Nigerians and have no international affiliations.
Bespoke development plans to improve critical business capabilities, access to critical industry and operational insights, opportunity for participation in local oil and gas fairs and strategic events, and access to market opportunities with oil and gas operators on industry projects, are among the benefits for the selected companies.