The Nigerian Content Development Monitoring Board (NCDMB) has called for increased indigenous participation in the oil and gas sector in order to rebalance the economy and increase production in the oil and gas sector.
This call was made through 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.
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.”
