Two Bills mandating multinational companies operating in the country to appoint qualified Nigerians as their Chief Executive Officers have passed first reading on the floor of the House of Representatives.
The proposed legislations stipulate that any multinational company that contravenes it would have committed an offence and be convicted.
The Bills, “Multinational Companies Appointment of Chief Executives (Regulatory) Bill, (HB 1933) and the Nigerian Oil and Gas Industry Content Development Act (Amendment) Bill, (HB 1934) are sponsored by Hon. Doctor Farah Dagogo, member representing Degema/ Degema Constituency.
The Multinational Companies Appointment of Chief Executives (Regulatory) Bill proposes that: “Without prejudice to the extant Federal Character Commission Act or any relevant applicable legislation, any appointment for the position of Chief Executive Officer of any multinational company shall be reserved for a qualified Nigerian with requisite knowledge, proven integrity, cognate experience and capacity to provide leadership in the industry.”
It warned in Clause 3 that “any multi national company in Nigeria which contravenes the provisions of this bill through its officers or proxies, commits an offence and shall, on conviction be liable to such penalty as may be prescribed by regulations issued under this bill.”
On the other hand the Nigerian Oil and Gas Industry Content Development Act(Amendment) Bill, is expected to make provisions for the appointment of qualified Nigerians as Chief Executive Officers of Multinational Oil and Gas Companies operating in Nigeria.
The amended bill in Clause 5(2) said : The Board shall implement the provisions of this Bill to ensure a measurable and continous growth of Nigerian content in oil and gas arrangements, projects, operations, activities or transactions in the Nigerian oil and gas industry. ”
Then Bill proposed the “effective and strict compliance with the provisions of this Bill in respect of appointment of Chief Executive Officers of any multinational Oil and Gas Company operating in Nigeria.”