The Executive Secretary (ES) of the Nigerian Content Development and Monitoring Board (NCDMB), Engineer Simbi Wabote is angry with the indigenous oil operators for not complying with the Nigerian Content Act by paying the necessary tax.
Speaking at a breakfast meeting with members of Guild of Corporate Online Publishers (GOCOP) in Abuja on Tuesday, October 3, lamented the increasing number of the indigenous operators who are working across purpose with the board’s Act by non-compliance.
According to Wabote, the NCDMB Act enables the board to protect indigenous producers especially in the oil and gas sector.
He decried the current state of indigenous producers lack of compliance, describing it as act of sabotage.
“We fought for you but you now sabotage the oil economy” and urged those harbouring a sense of entitlement to desist.
He noted that the indigenous operators try to save costs and care for profit more than national interest.
“They want to be exempted from the Law Content Act. We have made it clear that the law is for all.”
Wabote said it is wrong for a local contractor to win a job and employ 90 per cent expatriate experts, thereby causing job loss to Nigerians.
He accused them of project execution without getting approval and non-registration of their foreign workers in the expatriate ledger.
“They find it difficult to pay the one per cent levy stipulated by the Act. That is why the EFCC (Economic and Financial Crimes Commission) is now after some of them.”
The Executive Secretary said Nigeria has moved from three per cent local content value in the oil industry to 54 per cent.
He warned that if indigenous operators do not arrest the growth path by capturing the regulatory system, Nigeria will hit the 70 per cent target.
Wabote encouraged indigenous oil producers to comply with the board Act in their own interest and that of the nation.
Home BUSINESS OIL & GAS Nigerian Content Development Boss Angry With Indigenous Oil Operators For Escaping Tax
