The Nigerian Content Development and Monitoring Board (NCDMB) plans to spend between $100 million on a larger scale for the develop­ment of the proposed Ni­gerian Oil and Gas Parks geared towards boosting the manufacturing of oil and gas components.
At the onset, over $10million would be spent on each of the parks in the first phase while the second phase of the project will gulp $50 million.
The Executive Secretary of the Board, Engr. Ernest Nwapa, disclosed this in an interview on the sidelines of the Nigerian Oil and Gas Parks Scheme training programme held recently in Yenagoa, Bayelsa State.
Giving estimates of the proj­ect, Nwapa stated, that “in terms of cost for each of the parks, we will start from $10million for the phase one to $50million and $100million depending on the focus of each park.”
He explained that the Board embarked on the development of the parks to bring Local Content practice closer to the grass roots and integrate oil and gas based entrepreneurs into manufacturing as well as support the growth of Small and Medium Enterprises (SMEs) through mentoring by international Original Equipment Manufacturers (OEMs) and other multinationals.
According to him, “the scheme is specifically for industrial activi­ties and for us to succeed, we have to build it in such a way that it will be accessible to rural dwellers. That is the distinction between this and other parks. We will structure it in such a way that it will grow organically so that over a period it will come to maturity.”
He stated that the NCDMB was best placed to design and drive the scheme, stressing that the project fits into the industrial, oil and gas policy as well as the transforma­tion agenda of President Good­luck Jonathan.
The Executive Secretary further explained that the Board had a budget approval of $10million for each of the parks from the Nige­rian Content Development Fund (NCDF).
He stated that “even if it takes 10 years, whatever amount that comes out of the fund in 10 years will be dedicated to the parks.”
He further noted that facilities being developed at the parks will attract original equipment manu­facturers and Small and Medium Scale Enterprises, adding that the Board had regulatory powers to make OEMs set up in the loca­tions. He stated, “we are confi­dent that if we drive the develop­ment properly and sequence our activities that we would get onto that fast lane that required assuring that implementation steps will be planned properly to ensure that the scheme comes to life and does not fail like some government proj­ects.”
He also announced plans by NCDMB to begin engagement with communities where the parks will be situated and advised members of such communities to always see project promoters as development partners.

NCDMB to spend $100m on oil, gas parks devt