Library / Presidential Directive on Local Content Compliance Requirements, 2024

Presidential Directive on Local Content Compliance Requirements, 2024

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(b)  demonstrate genuine, substantial, and tangible capacity to
independently execute projects within Nigeria.
(4)  The approval of an NCP by the Board that contains entities acting
solely as intermediaries, with no demonstrable capacity to execute the project
or activity, shall be considered a violation of the local content requirements.
(5)  The Board shall develop guidelines for assessing and verifying the
capacity of companies seeking contracts for specified activities under the
Act, in consultation withindustry stakeholders.
2.—(1)  This Directive shall take effect immediately.
(2)  The NCDMB shall work out the modalities for the implementation
of this Directive.
3. In this Directive —
“Act” means Nigerian Oil and Gas Industry Content Development Act,
2010 ;
“Board” means the Nigerian Content Development and Monitoring Board
established by the Nigerian Oil and Gas Industry Content Development
Act ; and
“Minister” means Minister responsible for Petroleum Resources.
4. This Directive may be cited as the Presidential Directive on Local
Content Compliance Requirements, 2024.
ISSUED at Abuja this 28th day of February, 2024.
BOLA AHMED TINUBU, GCFR
President, Federal Republic of Nigeria
Definition
Effective
date  and
implementation
Citation