Abuja, Nigeria – In a bid to rebalance the economy and increase production in the oil and gas sector, the Nigerian Content Development Monitoring Board (NCDMB) has called for increased indigenous participation in the industry. The Board’s Executive Secretary, Engr Felix Omatsola Ogbe, made this call at the 5th Edition of the Nigerian Oil & Gas Opportunity Fair (NOGOF) 2025.
According to Ogbe, the Board’s 10-year roadmap has yielded significant results, with Nigeria’s in-country value retention increasing from 5% in 2010 to 56% in December 2024. This remarkable progress, he noted, is a testament to the effectiveness of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
Ogbe emphasized that Nigeria must leverage the evolving energy landscape to position itself as an attractive hydrocarbon investment destination, powered by local companies. He commended President Bola Tinubu’s Executive Orders and the First Nigeria Policy, which aim to attract investment and enhance local content development.
To sustain the momentum, Ogbe urged stakeholders to support the local content drive through procurement, capacity building, knowledge transfer, job creation, and mentorship for upcoming investors. With this push for increased indigenous participation, Nigeria is poised to unlock new opportunities for economic growth and development in the oil and gas sector.
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