In other news,The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, has applauded President Bola Tinubu for announcing three Presidential Executive Orders.

The orders objectives are aimed at incentivising the oil and gas industry, encouraging new investments in the sector, reducing contracting costs and timelines, and promoting cost efficiency in local content requirements.

The Executive Orders are the Oil and Gas Companies (Tax Incentives, Exemption, Remission, ETC) Order 2024; Presidential Directive on Local Content Compliance Requirements, 2024 (EO 41); and Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines, 2024 (EO 42).