From Adewale Sanyaolu, Houston, Texas
The Managing Director of New Energy Services Company Limited (NESSCO), Mr Usman Mohammed, has stressed the need for stronger collaboration and improved access to funding to drive the growth of indigenous oil and gas companies in Nigeria.
Speaking on the sidelines of the Offshore Technology Conference (OTC) in Houston, Texas, in 2026, Mohammed lamented that financing remains one of the biggest challenges limiting the expansion of local operators despite the successes recorded under Nigeria’s local content policy.
According to him, indigenous firms have demonstrated capacity across different segments of the industry but continue to struggle with access to the capital needed to scale operations.
“Most of the challenges facing local companies are tied to funding. If we have banks dedicated to the energy sector in Nigeria, indigenous companies will have better access to finance,” he said.
He noted that NESSCO is itself a product of Nigeria’s local content initiative, adding that many indigenous firms have grown through opportunities created under the policy.
He also urged the Nigerian Content Development and Monitoring Board (NCDMB) to make funding support more accessible to local companies by simplifying qualification requirements for indigenous contractors.
According to him, practical financing conditions tailored to the realities of Nigerian firms would help more companies secure funding and compete effectively in the industry.
Beyond funding, the NESSCO boss identified collaboration among indigenous firms and Original Equipment Manufacturers (OEMs) as another critical factor needed to strengthen local capacity and deepen technology transfer in Nigeria’s oil and gas sector.
He said partnerships and networking should be encouraged organically among industry players to support business growth and industrial development.
“You cannot do business with somebody you do not know. Collaboration is the only way, and it should happen naturally,” he said.
Drawing parallels with the development of global industrial brands, he said Nigerian companies must deliberately build long-term business relationships capable of supporting sustainable growth.
Speaking on his company’s operations, he disclosed that NESSCO recently secured renewed contracts after successfully executing previous projects to specification.
He explained that the company operates in facility management, drilling support services and energy infrastructure operations, while also expanding into new service areas within the industry.
Mohammed further urged indigenous operators to remain resilient and take advantage of opportunities being created under the current reforms in Nigeria’s oil and gas sector.
“The world is changing and technology is changing. Nobody will develop Nigeria for us. Indigenous companies must take advantage of the opportunities available,” he added.
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