The Federal Government has saved a whopping $2 billion in the Engineering Procurement and Construction (EPC) contract for Nigeria LNG Train 7 Project following the pragmatic implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Simbi Kesiye Wabote made the disclosure at the 2020 Annual Capacity Building Workshop organised by the Board for the Judiciary. The workshop was held via zoom and it drew over 117 participants, including Justices of the Supreme Court, Appeal Court, National Industrial Court, Federal High Court and external solicitors.
Wabote, in his keynote address stated that contrary to wrong insinuations in some quarters, verifiable evidence has proven that sustainable local content practice reduces the cost of oil and gas projects in addition to creating job opportunities and economic prosperity.
Source: The Sun