NCDMB, FIRS, host tax workshop for petroleum industry
. Strengthen quality management services
The Nigerian Content Development and Monitoring Board (NCDMB), will tomorrow host a tax awareness workshop for oil and gas industry stakeholders.
The workshop is based on the provisions of Nigeria’s Finance Act 2021 and other extant tax codes relating to research and development (R&D).
A statement on Sunday said the workshop taking place at the Nigerian Content Tower in Swali, Yenagoa, Bayelsa State, is being organised by the NCDMB in conjunction with the Federal Inland Revenue Service (FIRS).
The statement reads further: “… the one-day workshop is intended to create awareness of tax incentives available to Nigerian companies that invest in research and development.
“Over the years, operational records show that organisations that invest in R&D outperform their competitors in acquisition of appropriate technology, project delivery excellence and overall organizational capability, including job creation potential.
“NCDMB has consequently prioritised promotion of R&D culture among local oil and gas suppliers as one of the pillars of its supplier development interventions.”
The statement added that the Executive Secretary, NCDMB, Simbi Wabote, will be the keynote speaker, while FIRS Executive Chairman, Muhammad Nami, is to deliver a special address.
Also, NCDMB’s Director of Planning, Research and Statistics, Daziba Obah, is scheduled to present a welcome address.
Other presentations include: “Provisions of NOGICD Act on R&D, R&D Operating Model and Imperatives for Success,” to be delivered by the General Manager, Research Statistics and Development (RSDD), NCDMB, Abdulmalik Halilu, and “Royalty Potential from R&D Investment,” by an Associate Director, PWC Tax Line of Service, Ayo Akinduyite.
The one-day workshop is intended to create awareness of tax incentives available to Nigerian companies that invest in R&D
Quality management services
In another development, NCDMB said it has trained selected indigenous services companies on quality management services (QMS).
Held recently in Port Harcourt, Rivers State, the Board explained the training is part of the strategies to develop the capacity of Nigerians in the oil and gas sector.
The training, the first of its series, also sought to teach Nigerian companies how to adopt a structured system that documents relevant processes and methods that will help the companies meet the needs of their customers and regulatory authorities.
The Executive Secretary, NCDMB, Simbi Wabote, was quoted as saying in a presentation that the training was conceived to increase the participation of Nigerians in the oil and gas industry and to accelerate the attainment of 70% Nigerian Content by 2027.
Wabote, represented by the General Manager, Capacity Building Division, Dr. Ama Ikuru, said: “The most often used strategy for quality management systems is in accordance with ISO 9001:2015, which is an international standard that outlines requirements for quality management systems.”
He reiterated that the Nigerian Content policy mandates the Board to develop the capacity of Nigerian companies to deepen their participation in the oil and gas sector.
He continued: “In this programme, company executives and representatives will be trained on how to build a system in place to ensure continuous quality delivery to the industry.
“We want a high level of Nigerian Content to be delivered by companies that are qualified; we want them to deliver excellent quality to the industry, and that’s the significance of the training.”
The trainees were urged to take the training seriously.
