NDCMB building proof of prudent fund Mgt- Wabote

The Executive Secretary of Nigerian Content Development and Monitoring Board (NDCMB) Engr Simbi Kesiye Wabote has said the completion of the 17 storey headquarters of the board is a bold statement on prudent fund management and reliability of local content.

Wabote who stated this during the commissioning of the building in Yenagoa, Bayelsa State capital commended President Mohammadu Buhari ,  the Minister of State for Petroluem, Chief Timipre Sylva and former executive secretaries, Engr Ernest Nwakpa and Arch Denzel Kentebe for the determination and commitment to complete the building.

According to him the board would deploy more funds to execute other projects for the benefit of Nigerians.

He said “The manpower used for services and labor is over 95% Nigerian Content. The skills transferred to the local workforce in the construction of a high-rise building have been unprecedented.

We are proud of the end-to-end thinking that went into the design and execution of this project which is typical of what we do in the Nigerian Content Board. That is why we also partnered with NAOC JV to provide the 10MW gas-fired Power Plant to provide reliable power supply to the new headquarters building.

Like the foundation of this building, our mandate is deeply rooted in the law setting up the Board as a regulator and developer of capacities in the Nigerian oil and gas industry.

The law provides that 1% of the value of all contracts awarded in the upstream sector is paid into the Nigerian Content Development Fund. This project represents an evidence of the prudent management of the Fund. We are also deploying the Fund to execute other projects and for other income yielding ventures to ensure sustainability.”

Governor Douye Diri in his remarks said the building represents what Nigerians can achieve with judicious planning.

Diri who lauded the collaboration between the Federal government and the state government said the building fits perfectly into the urban renewal policy of his administration.

“Without doubt, this edifice is a clear testament to what we as a people can accomplish with judicious planning and focused execution. It was a bold and ambitious venture, but given the outstanding pedigree of Simbi, we could not have expected anything less.

This outstanding structure, not only significantly improves the aesthetics of our city and profoundly advances its landscape, it also fully aligns with the Urban Renewal policy of the Prosperity Administration and it represents a useful benchmark to set our targets as a state against. It is further worth mentioning, that this landmark project was executed by an indigenous construction company.