The value represents 32 per cent value retention of the $20 billion yearly spend in the oil and gas industry just as Wabote said efforts are on-going to achieve 70 per cent.
Wabote, while speaking at the Nigerian Content Capacity Building workshop organised for media stakeholders in Port-Harcourt and Lagos, noted that only five per cent was being retained when the Nigerian Content Act was enacted in 2010 and that the percentage grew to 26 per cent in 2017.
The CCG also provides for the establishment of critical infrastructure to stimulate development, attract new businesses to host communities and sustain the growth of host community entrepreneurs through funding and policy support. General Manager, Strategy and Transformational Projects, NCDMB, Abayomi Bamidele made a presentation at the workshop on the mid-term review of the Board’s 10-Year Strategic Roadmap.