The Nigerian Content Development and Monitoring Board (NCDMB) has announced that local content performance in the oil and gas industry reached 56% in 2024, up from 54% in 2023. This milestone was revealed by the Board’s Executive Secretary, Engr. Felix Omatsola Ogbe, at the 13th Practical Nigerian Content (PNC) Conference and Exhibition in Yenagoa, Bayelsa State.
Engr. Ogbe, alongside a representative of the Bank of Industry (BoI), signed an agreement at the Forum to establish a revised Nigerian Content Community Contractors Financing Scheme. The fund, now worth N15 billion, aims to provide financial support to local contractors working on oil and gas projects. Notable revisions include increasing the single obligor limit from N20 million to N100 million, addressing a critical funding gap faced by indigenous players.
The conference, themed “Defining the Next Frontier for Nigerian Content Implementation,” drew industry heavyweights, government officials, and key stakeholders. These included the Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and his counterpart in Gas, Rt. Hon. Ekperikpe Ekpo.
The NCDMB, through its Nigerian Content 10-Year Strategic Roadmap, aims to achieve 70% local content by 2027. Initiatives such as the Back-to-the-Creeks program and the Nigerian Content Academy are helping bridge skill gaps and create opportunities for host communities.
Additionally, the Board has made strides in the gas sector, supporting projects such as modular gas plants and LPG facilities. Minister Ekpo lauded these efforts, emphasizing gas as the backbone of Nigeria’s energy transition. He highlighted recent achievements, including the commissioning of the SEPLAT Assa North and Shell Ohaji South gas fields with a combined capacity of 600 million standard cubic feet per day.
As global energy dynamics shift, the NCDMB and its partners remain focused on advancing local content to ensure economic sustainability and energy security for Nigeria.
