By Chimezie Godfrey
The Nigerian Content Development and Monitoring Board (NCDMB) has reminded upstream operators, contractors, and service providers of their statutory duty to remit one percent (1%) of every contract value into officially designated Nigerian Content Development Fund (NCDF) accounts.
Executive Secretary, Engr. Felix Omatsola Ogbe, stated that the NCDF is a dedicated statutory fund established under Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, aimed at fostering indigenous participation, capacity building, and sustainable sectoral growth.
“The NCDF is a ring-fenced fund, not Federal Government revenue, and all payments must go into accounts officially designated by NCDMB. Remittances made elsewhere will not be recognized as valid,” Ogbe clarified.
The Board emphasized that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) is now compulsory for accessing NCDMB approvals, certifications, and regulatory services, including Nigerian Content Equipment Certificates, project approvals, and contract clearances.
Ogbe advised stakeholders to promptly regularize their remittances, submit required documentation online, and obtain the Compliance Certificate to ensure uninterrupted operations.
He reaffirmed NCDMB’s commitment to transparency, accountability, and effective use of the NCDF for the development of Nigerian Content.