Dear Esteemed Colleague,
The House of Representatives at its Siting on Thursday, 2 November, 2023, read the Nigerian Content (Non- Oil and Gas Sector) Development (Establishment) Bill 2023 (HB.59), the Second Time and referred the Bill to the House Committee on Nigerian Content Development and Monitoring’ for further legislative action.
The Bill in summary, is a legislative intervention of the House of Representatives to boost Nigerian Content Development in the non- oil and gas sector of our national economy, especiaily in ICT, Manufacturing, Solid Minerals and Metallurgy, Construction, Power, Maritime and Logistics, Health, Agriculture and Allied Products.
Specific provisions are made to ensure that made – in -Nigeria goods and services do not only have substantial patronage by Government but also by other entities operating in Nigeria. Circumstances in which Nigerian goods and services shall not be rejected is expressly provided for in the present Bill.
The Bill also provided means of funding Nigerian businesses including guaranteed and special loans, crowd- funding, factoring and forfaiting, among others. The Bill seeks to make Nigerian. businesses internationally competitive by introducing measures to achieve lower cost of production of goods and services in Nigeria and the prevention of dumping of goods in Nigeria.
In order ot achieve these goals, the Bill seeks to involve the private sector in the enforcement of the provisions of the Bill and specifically seeks to establish entities that will perform functions akin to the Nigerian Content Development and Monitoring Board at Yenogoa that regulates the implementation of local content plans and programmes in the oil and gas sector. The entities sought to be established are;
(a) Directorate of Nigerian Content Development on Information Communication Technology;
(b)Directorate of Nigerian Content Development on Solid Minerals and Metallurgy;
(c)Directorate of Nigerian Content Development on Maritime and Logistics;
(d) Directorate of Nigerian Content Development on Power;
(e) Directorate of Nigerian Content Development on Manufacturing;
(f) Directorate of Nigerian Content Development on Health;
(g) Directorate ofNigerian Content Development on Agriculture and Agro- Allied Products; and
(h) Directorate ofNigerian Content Development on Construction.
The Committee is of the opinion that some clauses in this Bill may likely relate to, or, regulate activities of lawyers, or concern our business interest, hence, the committee invites memorandum from members of the Nigerian Bar Association on the suitability or otherwise of any of the Clauses in this Bill and also solicit for your suggestion(s) on treating Clauses you find wanting or unsuitable in the circumstance.
Consequently, members of the Bar who have contributions to make in this regard by way of suggestions/proposals, are hereby requested to submit the same to the Head, Legal Regulatory and Compliance Department of the NBA, Ayodeji Oni, via [email protected] or +234 803 345 2825. All submissions must be made before the close of work on Friday, 15th March, 2023.
Warm regards,
Charles Ajiboye,Esq.
Assistant Publicity Secretary
