Section 106: Interpretation

ln this Act-
"Joint Qualification System" means the industry databank of available capacities and capabilities in the Nigerian oil and gas industry ;
"Labour Clause" means a clause mandating the use of a minimum percentage of Nigerian Labour in professional cadres in all contracts awarded in the Nigerian petroleum industry above a threshold value as stipulated by the Minister from time to time ;
"Minister" means the Minister of Petroleum Resources ;
"Nigerian Company" means a company formed and registered in Nigeria in accordance with the provision of Companies and Allied Matters Act with not less than 51% equity shares by Nigerians;
"NNPC" means Nigeria National Petroleum Corporation ;
"NNPC Joint ventures Partners" means oil companies that executed various petroleum agreements with NNPC ;
"Nigerian content" means the quantum of composite value added to or created in the Nigerian economy by a systematic development of capacity and capabilities through the deliberate utilization of Nigerian human, material resources and services in the Nigerian oil and gas industry;
"Nigerian content Indicator' means a percentage rating of a company based on specific criteria defined on the basis of values ascribed to each criterion;
"Nigerian oil and Gas Industry" means all activities connected with the exploration, development, exploitation, transportation and sale of Nigerian oil and gas resources including upstream and downstream oil and gas operations;
"Operator" means the Nigeria National Petroleum Corporation (NNPC), its subsidiaries and joint venture partners and any Nigerian, Foreign or International oil and gas company operating in the Nigerian Oil and Gas Industry under any petroleum arrangement;
"Partner" means any foreign company working on any project in partnership or as major contractor to an operator;
"Plan" means a Nigerian content plan submitted in compliance with any aspect of this Act ;
"oil and Gas e-market place" means a virtual platform for buyers and sellers of goods and services in the oil and gas industry that allows for speedy and transparent transactions.