The Nigerian Content Development and Monitoring Board (NCDMB) plans to spend about $100 million for the development of the proposed Nigerian oil and gas parks, which are geared to boost the manufacturing of oil and gas components.
At the initial stage, over $10 million would be spent on each of the parks in the first phase, while the second phase of the development is expected to gulp $50 million.
The Executive Secretary of the board, Ernest Nwapa, disclosed this in an interview at the closing ceremony of the Nigerian Oil and Gas Parks Scheme training programme held recently in Yenagoa, Bayelsa State.
Giving an estimate on the project, Nwapa stated that, “in terms of cost for each of the parks, we will start from $10 million for the phase one to $50 million and $100 million 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 grassroots 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.
Nwapa further explained that the board had a budget approval of $10 million 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 noted that facilities being developed at the parks would 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 said, “we are confident that if we drive the development properly and sequence our activities, we would get onto that fast lane we require.”
He assured stakeholders that implementation steps would 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 would be situated and advised members of such communities to always see project promoters as development partners.

NCDMB to spend $100m on oil & gas parks