Library / Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024
Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024

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(9)  Where the NCDMB fails to communicate its decision within the 10
days period, the NCP shall be deemed approved.
(10)  Where an applicant’s submission is deemed insufficient or
inadequate, NCDMB shall request for additional information or clarification
during the initial review period.
(11)  The applicant is required to furnish such additional information or
clarification within seven days.
(12)  Following the submission, NCDMB are obligated to respond to the
applicant within the subsequent seven days and the failure to do so will result
in the approval being deemed granted.
(13)  The NCDMB shall direct an application for expatriate quota to the
Ministry of Interior or any other relevant Ministry, Department or Agency
(MDA) within 10 working days, provided all supporting documents are in
place.
(14)  Where any matter requires the approval, satisfaction or consent of
the NCDMB and no timeline is provided under the Nigerian Oil and Gas
Industry Content Development Act, the NCDMB shall communicate its decision
on such matter within 15 days of receiving a request to that effect, failing
which the NCDMB shall be deemed to have approved, satisfied or consented
to such matter.
3. The duration for third-party contracts awarded pursuant to a PSC or
JOA is increased from three years to five years with the option of renewal
for an additional two years after the expiration of the initial five years.
4.—(1)  This Directive shall take effect immediately.
(2)  The MOFI, MOPI and NCDMB shall comply with this Directive
within 30 days, and shall work out the modalities for its implementation.
6. This Directive may be cited as the Presidential Directive on Reduction
of Petroleum Sector Contracting Costs and Timelines, 2024.
ISSUED at Abuja this 28th day of February, 2024.
BOLA AHMED TINUBU, GCFR
President, Federal Republic of Nigeria
Third-party
contract
duration
Effective
date and
implementation
Citation