ExxonMobil Vows to Comply with Nigerian Content Law

  • ExxonMobil Vows to Comply with Nigerian Content Law

The Managing Director of ExxonMobil Nigeria, Mr. Paul McGrath, has said the oil major will comply with all the provisions of the Nigerian Oil and Gas Industry Content Development Act as well as associated regulations.

McGrath said this on Thursday in Lagos when he received the management of the Nigerian Content Development and Monitoring Board, led by the Executive Secretary, Mr. Simbi Wabote, according to a statement from the NCDMB.

He said compliance with the provisions of the Act was not only a legal and moral obligation for operating and servicing oil and gas companies, but also a good strategy for improving profitability and sustainability of operations.

McGrath, who was appointed in March 2017, admitted that the company had defaulted in complying with some provisions of the Act in the past.

He promised that ExxonMobil would collaborate with the NCDMB to achieve its mandate, saying, “Together, we can transform things.”

He said the company would also seek the Board’s guidance and assistance when faced with difficulties and exigencies of business.

“The new leadership has zero tolerance for Nigerian content violations and non-compliance issues. If we must do, we have to first discuss with the NCDMB for guidance,” McGrath was quoted as saying.

He also highlighted the collaboration ExxonMobil had enjoyed from the NCDMB over time, which contributed to the company’s success.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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