PETAN Chairman, Mr. Nicolas Odinuwe has lauded the Project 100 N40 Beneficiaries of the Nigerian Content Development and Monitoring Board (NCDMB).

Mr. Odinuwe made the commendation in a goodwill message he gave earlier today at the virtual inauguration of the initiative which aspires to develop wholly and owned oil and gas service providers into large scale players of the future.

According to the Executive Secretary of the NCDMB, Engr. Simbi Wabote, who flagged off the event, the successful implementation of Project 100 SDP portends significant opportunities for deepening Nigerian content development and impacting the wider economy.

What N40 Beneficiaries Should Expect

1) Bespoke development plans to improve critical business capabilities;

2) Access to market opportunities with oil & gas operators on industry projects;

3) Participation in local oil & gas opportunity fairs and strategic events;

4) Technical and business performance improvement capacity programmes;

5) Drive relevant advocacy for policy recommendations that unlock some of the challenges identified by the beneficiaries;

6) R&D Collaboration

($50 Million NCRDF);

7) Collaboration with critical industry stakeholders for participation in relevant global oil & gas events;

8) Access to finance for qualifying organizations $350 million NCIF

$30 million Working Capital Fund.

According to him, the first 60 beneficiaries have benefitted from key interventions such as;

1) Development and implementation of bespoke development plans for the beneficiaries to improve critical business capabilities,

2) A one-day Business mentorship training

3) Collaboration with a beneficiary on the setup of a Technology Solution Centre for Refinery and Petrochemicals

4) Successful inclusion of 46 beneficiaries in Nigeria LNG supplier data base

5) Two-week technical training of beneficiaries on Subsea Systems and FPSO

6) Sponsorship of beneficiaries to the Nigerian Oil & Gas Opportunity Fair (NOGOF) 2019, with 91% being first time attendees.