21 February 2020
The House of Representative (‘HoR’) on 18th December 2019, commenced the first reading of the Nigerian Content Development and Enforcement Bill (the ‘NCDE Bill’). The NCDE Bill seeks to repeal the Nigerian Oil and Gas Industry Content Development Act 2010 (‘the Act’) and in addition to the Oil and Gas Industry, broaden the scope of its application to cover other industries/sectors to wit; Information and Communication Technology (ICT), Power Sector, Solid minerals and Construction.
The Bill seeks to ensure that first consideration should be given to Nigerian operators in the issuance of licences and permits in the designated sectors whiles enterprises or individuals desirous of carrying out business in any area of the Nigerian economy shall give priority in terms of award of contracts and employment to Nigerian indigenous businesses and individuals.
The Bill proposes the creation of various governing boards and departments to drive the implementation and development of Nigerian content in the designated sectors of the economy.