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NCDMB, PETAN sign $30 million agreement to ameliorate contract losses today.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from today.ng Daily Mail and Mail on Sunday newspapers.
Emmanuel Addeh in Abuja
The Nigerian Content Development and Monitoring Board (NCDMB) and the Petroleum Technology Association of Nigeria (PETAN) have signed an agreement on $30 million working capital scheme that will support the operations of oil companies against the adverse effects of Covid-19 pandemic and loss of contracts due to low oil prices.
Executive Secretary of NCDMB, Mr. Simbi Wabote and the Chairman of PETAN, Mr. Nicolas Odinuwe signed the Memorandum of Understanding (MoU) on the credit scheme in Abuja.
A statement from the executive secretary’s office, stated that the working capital scheme was one of the newly introduced products in the Nigerian Content Intervention Fund (NCI Fund) approved by the NCDMB’s governing council under the leadership of the Minister of State for Petroleum Resources, Chief Timipre Sylva.
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