The Senate yesterday tackled the Nigerian Content Development and Monitoring Board (NCDMB) over alleged breach of local content laws being carried out by SAIPEM in the execution of the $10 billion Train 7 gas project. SAIPEM (S.P.A) is an Italian multi-national Oil Field Services Company serving as the principal contractor involved in executing the Train 7 Project. The Committee on Local Content, chaired by Senator Teslim Folarin (APC, Oyo Central), summoned the Executive Secretary of NCDMB, Simbi Wabote, for a meeting on the perceived regulatory negligence.
Folarin said at the beginning of the investigative session was sequel to failure of SAIPEM to defend allegations of violations of local content laws in the execution of the $10 billion gas project contract. He added: “SAIPEM appeared before this committee in December last year on alleged violations of local content laws in the execution of the $10billion Train 7 Project without any convincing defensive submissions.”