From Femi Folaranmi, Yenagoa
The Nigerian Content Development Monitoring Board (NCDMB) has called for increased indigenous participation in the oil and gas sector to rebalance the economy and increase production in the oil and gas sector.
The Executive Secretary of the Board, Engr Felix Omatsola Ogbe who stated this at the 5th Edition of the Nigerian Oil & Gas Opportunity Fair (NOGOF) 2025 with the theme: ‘Driving Investment and Production Growth: Shaping a sustainable Oil and Gas Industry through Indigenous Capacity Development’, disclosed that the 10 years roadmap designed by the board has ensured Nigeria move from 5% in-country value retention in 2010 to 56% in December 2024.
According to him, Nigeria must take advantage of the evolution of the energy landscape and position herself as an attractive hydrocarbon investment destination and a beacon of sustainable development powered by local companies.
Ogbe stated that since the enactment of the NOGICD Act in 2010, Nigeria has made remarkable progress in building the capability and capacity of Nigerians and of Nigerian companies, attracting critical investments in-country, and enhancing value retention.
He commended President Bola Tinubu for his Executive Orders and the First Nigeria Policy, which seeks to attract Nigeria as an investment destination and enhance the Nigerian content drive.
‘’What we do in the Board has been further reiterated by President Bola Tinubu’s newly introduced “Nigeria First Policy.” It is a bold, forward-thinking move for our Nigerian Content drive. We must commend Mr. President for this laudable initiative.
Today, we are proud to say that Nigerian content has moved from aspiration to execution.
From well-equipped, ISO certified fabrication yards in Port Harcourt, Warri, Lagos, to modular refineries in Imo and Delta States, and from pipe mills to marine vessel ownership, Nigerians are not just participating—they are delivering at the highest level.
However, the real opportunity lies ahead. As we move towards rebalancing our economy and increasing oil and gas production, it is imperative that we deepen indigenous participation, not only in upstream services but across midstream and downstream operations.
‘’The sale of onshore assets by the IOCs to indigenous companies is a bold step and strategic shift towards deeper local participation and value retention.
‘’ I use this opportunity to congratulate Renaissance, Seplat, Oando, and all our indigenous companies on their milestone achievements. I encourage you not to relent.
We must sustain the momentum and come together to support this local content stride in terms of procurement, capacity building, knowledge transfer, job creation, and mentorship for upcoming investors.’’
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