The Nigerian Content Development and Monitoring Board (NCDMB) on Monday expressed concern over the export of oil and gas projects to China by International Oil Companies (IOCs).
The NCDMB’s Executive Secretary, Simbi Wabote, while speaking at an Nigeria Oil and Gas conference in Abuja,pointed out that extant regulations mandated oil and gas companies to ensure 40 per cent local content in oil and gas projects in Nigeria.
According to him, about $100 million had been recovered from oil firms found evading statutory dues accruable to the board.
“We have been in a constant battle with some of the IOCs, which believe that the only place to carry out their jobs must be China and not Nigeria. I’ve said it several times. Nobody can compete with the Chinese, not the Europeans, not the Americans,” Wabote said.
“You cannot compete with them when it comes to cost, but I think for a country you’ve been around for almost 50 years, you should plan to develop it.”
