By Peace Udugba -The daily torch media
The Nigerian Content Development and Monitoring Board (NCDMB) has reminded operators, contractors, and service companies in Nigeria’s upstream oil and gas sector that the remittance of the one per cent Nigerian Content Development Fund (NCDF) levy remains a statutory obligation.
In a statement issued Tuesday at the Nigerian Content Tower in Yenagoa, Bayelsa State, the Executive Secretary of NCDMB, Felix Omatsola Ogbe, said the NCDF was established under Section 104 of the Nigerian Oil and Gas Industry Content Development Act as a dedicated fund to promote Nigerian content development in the oil and gas industry.
He reiterated that all covered entities are required to remit one per cent of the value of every upstream contract and stressed that the Board has exclusive authority to manage and administer the fund.
Ogbe explained that the NCDF is a ring-fenced statutory development fund created by an Act of the National Assembly and is not classified as Federal Government revenue payable into the Consolidated Revenue Fund. He added that its collection and administration are strictly governed by Section 104 of the Act.
The Executive Secretary emphasized that all remittances must be paid strictly into bank accounts officially designated by the NCDMB. Any payment made outside the approved accounts, he warned, will not be recognized as valid under the law.
Funds generated under the NCDF are used to support indigenous oil and gas contractors and service companies, finance capacity development and training, provide access to affordable funding for local participation, and drive sustainable growth across the industry value chain.
In addition, the Board announced that the Nigerian Content Development Fund Compliance Certificate (NCFCC) is now a mandatory requirement for accessing its regulatory services and approvals.
According to the NCDMB, companies without a valid NCDF Compliance Certificate will not be granted access to regulatory documents, certifications, approvals, and clearances, including the Nigerian Content Equipment Certificate (NCEC) and other project-related authorisations.
The Compliance Certificate confirms that a company has fully met its statutory obligation to remit one per cent of the value of every upstream contract.
The Board advised stakeholders to regularise their remittance status, apply promptly for the certificate, and maintain continuous compliance to avoid disruptions to their operational schedules.
It further noted that the application process is fully digital and accessible through the NCDMB online portal. Companies are required to submit relevant contract and remittance details, upload evidence of payment, undergo verification, and obtain the certificate upon confirmation of compliance.
The NCDMB assured industry players of its continued commitment to transparency, accountability, and the effective utilisation of the Fund to strengthen and sustain Nigerian content development in the oil and gas sector.
