The Petroleum Minister, Diezani Alison-Madueke, has directed the Nigerian Content Development and Monitoring Board (NCDMB) to develop strategies and incentives to ensure that Nigerians invest in the oil and gas industry and also to draw investments from abroad.

Executive Secretary of the board, Ernest Nwapa, who dropped the hint, stated that oil majors would comply with the policy of the Federal Government in the sector in a bid to give a sense of belonging to the indigenous companies.

Mr Nwapa made the disclosure in Warri, Delta State, after inspecting the facilities owned by Fenog Nigeria Limited and commissioning a new Horizontal Directional Drilling (HDD) rig.

The board would mount pressure on the operators to use the facilities in Nigeria as, according to him, “the board is strategizing on ways to ensure strict compliance with the Act and drive the industry”.

Mr Nwapa expressed delight that investors were beginning to come to the Niger Delta, as the area had suffered for a long time owing to lack of confidence. “Now investors can come with money and get a return from their money”.

Group General Manager of Fenog, Bello Oboh, commended the Federal Government for signing the Nigerian Local Content Act into law. According to him, the firm acquired new Horizontal Drilling Rig in a bid to key into government’s policy and also meets the expectations of its clients.

“By this new technology, Fenog is poised to collaborate with the Federal Government to ensure a more efficient, refined and unrefined products distribution network and indeed put an end to the menace of pipeline vandalism”, He said.

He averred that the HDD technology will secure the pipelines from the activities of vandals as it can go down as deep as 2 meters to 100 meters to make it more secured.

Published by The Pointer Newspaper of July 26, 2011.