Nigeria’s annual in-country retention from oil and gas spendings currently stands at $6 billion. The development has been described as a major achievement recorded by the country owing to the implementation of the Nigeria Oil and Gas Industry Content Development (NOGICD) Act of 2010. The Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote, disclosed this in Lagos, in a keynote address at a colloquium organised by the Nigerian Bar Association (NBA) Section on Business Law in collaboration with the NCDMB. The session focused on the “Strides in the Pursuit of True Nigerian Content”. Wabote, whose speech was read at the session by his representative and Director, Legal Department, NCDMB, Mr. Mohammed Umar, said since the inception of the NOGICD Act in 2010, its implementation has resulted in 35 per cent of in-country value retention compared to the less than five per cent value retention before the advent of the Act.