Amanze Chinonye
The Nigerian Content Development and Monitoring Board (NCDMB) has reiterated that operators, contractors and service companies in Nigeria’s upstream oil and gas sector must continue to remit the statutory one per cent Nigerian Content Development Fund (NCDF) levy into accounts officially designated by the Board.
In a statement issued Tuesday at the Nigerian Content Tower in Yenagoa, Bayelsa State, the Executive Secretary of NCDMB, Felix Omatsola Ogbe, said the levy remains mandatory under Section 104 of the Nigerian Oil and Gas Industry Content Development Act.
Ogbe explained that the NCDF was established as a dedicated fund to drive the development of Nigerian content in the oil and gas industry, stressing that companies covered by the law are required to remit one per cent of the value of every upstream contract.
Join our WhatsApp ChannelHe clarified that the fund is a ring-fenced statutory development fund and not classified as Federal Government revenue payable into the Consolidated Revenue Fund. According to him, the collection and administration of the levy are expressly governed by Section 104 of the Act, with NCDMB vested with exclusive authority to manage it.
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The Executive Secretary warned that remittances made outside the accounts formally designated by the Board would not be recognised as valid payment of the one per cent levy under the law. He urged companies to seek clarification from the Board where necessary before effecting payments.
Funds generated under the NCDF, Ogbe said, are deployed to support indigenous oil and gas contractors and service companies, finance capacity development and training, provide access to affordable funding for indigenous participation, and promote sustainable growth across the oil and gas value chain.
The Board also announced that obtaining the Nigerian Content Development Fund Compliance Certificate (NCFCC) is now a key requirement for accessing its regulatory services and approvals.
According to the NCDMB, the certificate confirms that a company has fully complied with its statutory obligation to remit one per cent of the value of every upstream contract. Without a valid NCDF Compliance Certificate, the Board said companies would be unable to access regulatory documents, certifications, approvals and clearances issued by the agency, including the Nigerian Content Equipment Certificate (NCEC) and project approvals.
The Board advised industry stakeholders to regularise their remittance status and apply promptly for the certificate to avoid disruptions to their operations.
It added that the process for obtaining the compliance certificate is fully digital through the NCDMB online portal. Eligible companies are required to submit relevant contract and remittance information, upload evidence of payments, complete verification and compliance review, and obtain the certificate upon confirmation.
The NCDMB maintained that the compliance certificate serves as validation of a company’s standing with the Board and as a mechanism to promote transparency, accountability and sustainable development of Nigerian content in the oil and gas industry.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
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