The Executive Secretary, Nigerian Content Development and Monitoring Board, Simbi Wabote, on Monday faulted some International Oil Companies who are operating in Nigeria but taking their jobs to China to cut costs.
He made the disclosure at the ongoing Nigerian Oil and Gas conference in Abuja.
According to him, this is coming despite the creation of a $400m intervention fund for the oil and gas sector adding that IOCs’ drive to cut costs at the detriment of Nigeria as their host country should be reconsidered.
He said, “What I see from where I see is a constant battle with some of the IOCs who believe that the only place to carry out their work must be China and not Nigeria.
“And I’ve said it severally that nobody can compete with the Chinese, not the Europeans, not the Americans. You cannot compete with them when it comes to cost.”
While condemning the act, he said the development of a country that has played host to them in over 50 years should be their concern.
“But I think that for a country that you’ve been around for almost 50 years, you must have in your heart on how to develop the country and help the government to create employment and value. But I don’t see it in some of the IOCs that operate in Nigeria.”
Wabote made it clear that the NCDMB was not out to block the development of projects by IOCs, rather the agency would continue to support the oil firms in accordance with the law.
He, however, explained that local content must not be seen as a cost centre but part of the business with several benefits for all nations, businesses and investors involved in the practice.
“We in local content believe in balancing cost in whatever we do. But for those who argue about cost, you must also balance the cost discussion with stability in the country,” he told his listeners.
He added, “In a country where perhaps you have almost 35 per cent unemployment rate, with the bulging youth population, what will you benefit if you take the jobs out of this country to China and then leave that youth population? I can assure you that when you finish your project you cannot operate it.
“This is because you must balance the social need of the people with your craze, crave and drive for cost reduction against the survival of a nation.
In his address, the Deputy Managing Director, Deep Water, Total E & P Nig. Limited, Mr Victor Bandele, said despite Nigeria’s challenging environment, it is committed to investing in the country;” because we strongly believe in the potential of Nigeria and Nigerians.
“This is why we have been quite active in recent years even in the face of understandable uncertainties. We completed Egina at the end of 2018 and have been progressing well with the development of the Ikike project,” he added.
He stated that in the last few years, TotalEnergies has invested approximately 10 billion dollars in the country.
He added that through decades of executing development projects, the company’s activities have contributed to creating jobs and developing human capacity in Nigeria.
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