Sanctions to be Imposed on Oil Companies Over law Violation – FG
The Federal Government says it will sanction oil and gas companies that do not comply with the Human Capacity Development provisions contained in the Nigerian Oil and Gas Industry Content Development Act.
The Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote, made this known while delivering a keynote address at the second edition of the virtual stakeholders workshop for Human Capacity Development in the Nigerian oil and gas industry.
Speaking on the topic, ‘Human Capacity Development: The Pillar for Nigeria’s industrialisation’, the NCDMB chieftain warned that the board would enforce periodic forensic audit for HCD programmes and companies found violating the NOGICD Act 2010 and the ministerial regulations in executing cost intensive Capacity Development Initiatives as mandated by the Act, would be sanctioned.
Also Read: Capital Importation Declined To $1.57bn
He noted, “It has come to the attention of the board that some operating companies and services companies are reluctant to implement the HCD programmes as directed by the board. Most of the companies are testing the mettle of the board and I want to use this opportunity to inform erring companies that the board will meet appropriate sanctions to them as prescribed by the Act.”
He added that the board was mandated to ensure that the industry derives maximum benefits from huge investments and also ensure beneficiaries of the HCD training programmes find gainful employment in the sector.
Wabote further emphasised on the importance of human capacity development that ”With the rapid advancement in technologies used in the oil and gas industry, our industry will continue to be manned by foreigners and expatriates if we do not keep pace with the spate of technological development by developing the human capabilities required for the challenges of modern industrial technologies”.