NASS accuses IOCs, independent firms of non-remittance. The Senate has raised fresh concerns over rising expatriate dominance in the oil and gas sector, revealing that thousands of foreigners are currently occupying roles that should increasingly be handed over to qualified Nigerians. This comes despite local content performance reaching 61 per cent, from 57 per cent in 2024, even as the Nigerian Content Development and Monitoring Board (NCDMB), unveiled a new $100 million Equity Investment Scheme (EIS) in partnership with the Bank of Industry (BOI). Chairman of the Senate Committee on Local Content, Joel Onowakpo Thomas, speaking at the Practical Nigerian Content Forum (PNC) in Yenegoa, Bayelsa State, said most oil companies in the country are flouting local content laws and failing to remit to the Nigerian Content Development Fund (NCDF). Some, he said, have not made any remittance since 2015. According to him, the “era of paper compliance” with local content obligations has ended. He stressed that full enforcement is now the priority of the government.

Guardian