Court affirms NCDMB’s mandate to collect 1% NCDF

) to collect the one percent Nigerian Content Development Fund levy from every contract awarded in the Nigerian oil and gas upstream transaction as mandated under section 104 of the Nigerian Oil and Gas Industry Content Development Act.

The IADC members had filed the lawsuit – Suit No.

Wabote stated that the decision would strengthen the Board’s resolve and commitment to Nigerian content implementation regardless of any headwind or distraction.The NCDF is NCDMB’s only source of funding sequel to the exit of the Board from federal allocation in 2017/2018.

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