The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Omatsola Ogbe, has stated that as the global energy landscape evolves, the board plans to position Nigeria as a hydrocarbon investment destination powered by local companies.
Ogbe made this statement during the 2025 edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, with the theme: “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development”.
While delivering his address at the opening ceremony of the oil and gas opportunity fair, Ogbe said the event serves as a strategic platform to share forward-looking insights, showcase upcoming projects, and deepen collaboration across the oil and gas value chain.
Speaking further on the plan to transform Nigeria into a hydrocarbon investment hub driven by local companies, he noted that President Bola Tinubu has signed three Executive Orders designed to leverage the nation’s resources and position Nigeria as the preferred investment destination for the oil and gas sector in Africa.
He said, “This event coincides with the 15th anniversary of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, and we have created a 10-year roadmap to deepen local participation and increase Nigerians’ involvement in the oil and gas industry.
“Today, we have moved from 5% in-country value retention in 2010 to 56% in December 2024. As the global energy landscape evolves, Nigeria must position itself as an attractive hydrocarbon investment destination and a beacon of sustainable development powered by local companies.
Since the enactment of the NOGICD Act in 2010, we have made remarkable progress in building the industry’s capability and capacity. In a bid to revitalise Nigeria’s oil and gas sector, President Bola Ahmed Tinubu signed three Executive Orders.
“These orders are designed to leverage the nation’s resources and position Nigeria as the preferred investment destination for the oil and gas sector in Africa. 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.
From well-equipped, ISO-certified fabrication yards in Port Harcourt, Warri, and 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 work 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 a 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.
“With opportunities like UBETA, Bonga North, and Zabazaba coming onstream, great prospects are available for Nigerian companies to further demonstrate their capacity. I encourage the IOCs to make a conscious effort to engage local companies in line with the provisions of our laws.
“Our strength must lie in the expertise of our people, the enterprise of our local businesses, and the robustness of our institutions. I cannot emphasise this enough! To this extent, I charge the IOCs and indigenous operators to revamp our Human Capital Development (HCD) initiatives.
“The need to quickly deliver on more training programmes is critical. With the increase in activities in the oil and gas industry, I urge that we step up our training efforts. I look forward to your support in ensuring that all training under appropriate projects is conducted immediately.
At NCDMB, we remain unwavering in our commitment to creating the right policies, providing funding mechanisms, and fostering partnerships to support Nigerian businesses. I am happy to announce that the Board, alongside other stakeholders, recently formed the Africa Energy Bank with the proposed headquarters in Abuja.
“The Bank will be open for business before the end of the second quarter in 2025. We are hopeful that this will create greater funding availability for local companies. We are also fostering innovation through the Nigerian Oil and Gas Technology (NOGTECH) Hackathon and incubating new ideas that will drive digital transformation and sustainability.
“To our indigenous players, the opportunities are vast, but so is the responsibility. Provide mentorship to younger generations, embrace global standards, invest in capacity building, form strategic alliances, and aim to compete not just in Nigeria but across Africa and beyond.”
