Library / Federal Republic of Nigeria Official Gazette No. 41 Lagos - 4th March, 2024
Federal Republic of Nigeria Official Gazette No. 41 Lagos - 4th March, 2024

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B 9
PRESIDENTIAL DIRECTIVE ON LOCAL CONTENT COMPLIANCE
REQUIREMENTS, 2024
[28th Day of February, 2024]
WHEREAS,  investments in the oil and gas sector in Nigeria have significantly
decreased, with the country having only 5% of Africa’s total oil and gas
investments despite holding 38% of the continent’s hydrocarbon reserves ;
WHEREAS, the Nigerian Oil and Gas Industry Content Development Act,
2010 has recorded success in developing local content capacity in Nigeria,
leading to substantial benefits to Nigeria and her citizens ;
WHEREAS, engagements with industry regulators and stakeholders have
revealed high-cost operating environment and project delivery schedule delays
which exceed global standards, occasioned in part by the misapplication of
Nigerian content requirements to goods and services in the sector ; and
WHEREAS, it has become imperative to provide policy directives to tackle
these challenges, with the primary objective of attracting investments into the
sector and restoring economic growth by facilitating conducive operating and
investment environment.
NOW THEREFORE,  in exercise of the powers conferred on me by section
100 of the Nigerian Oil and Gas Industry Content Development Act, 2010
and all other powers enabling me in that behalf, I, Bola Ahmed Tinubu,
GCFR, President, Federal Republic of Nigeria and Minister of Petroleum
Resources, issue the following Policy Directives —
1.—(1)  The Nigerian Content Monitoring and Development Board (“the
Board”) in its implementation of the Nigerian Oil and Gas Industry Content
Development Act, 2010 (“the Act”) shall —
(a)  take into account the practical challenges of insufficient in-country
capacity for certain services ; and
(b)  act in a manner that does not hinder investments or the cost
competitiveness of oil and gas projects.
(2)  The Board shall not approve a Nigerian Content Plan (NCP) that
contains intermediary entities lacking the essential capacity to perform the
services.
(3)  The Board shall only approve an NCP that consists of contractors
that –
(a)  meet the legal definition of Nigerian content ; and
Commence-
ment.
S. I. No. 2 of 2024
Compliance
with local
content
requirements