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The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omotsola Ogbe, has issued a strong call to international oil companies (IOCs) to increase their engagement with indigenous Nigerian companies for their oil and gas projects. The appeal was made during the ongoing Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025 in Yenagoa, Bayelsa State, a key event gathering major stakeholders in the country’s oil and gas industry.
The NOGOF 2025, themed “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development,” is a crucial platform aimed at fostering sustainable growth in Nigeria’s energy sector by emphasizing local participation and capacity building. Ogbe welcomed attendees by highlighting the pivotal shift in Nigeria’s oil industry towards deeper local involvement.
Ogbe applauded indigenous firms such as Renaissance, Seplat, and Oando for their successful acquisition of onshore assets from IOCs—a move he described as both bold and strategic. He urged Nigerian companies not to lose momentum and emphasized the need for local firms to lead in procurement, capacity building, knowledge transfer, job creation, and mentorship for emerging investors in the sector.
“The sale of onshore assets by IOCs to indigenous companies is a game changer. This is a strategic shift towards retaining more value locally and boosting Nigeria’s oil and gas industry. Indigenous companies must sustain this progress and continue to develop the sector,” Ogbe stated.
Highlighting upcoming opportunities, Ogbe mentioned projects like UBETA, Bonga North, and Zabazaba, which present significant chances for Nigerian companies to showcase their capabilities. He further cautioned IOCs against outsourcing critical operations and encouraged adherence to Nigerian laws mandating local content engagement.
“No nation secures energy independence or industrial growth by outsourcing its core capabilities. Our strength lies in the skills of our people, the ingenuity of local businesses, and the strength of our institutions,” he stressed.
To complement these goals, Ogbe urged a revitalization of Human Capital Development initiatives within the industry. While recognizing existing training efforts, he emphasized the urgency to scale up these programs to meet the growing demands of the oil and gas sector. Ogbe expressed hope for collaborative support from IOCs and indigenous operators to ensure immediate rollout of relevant training programs.
Tracing progress, Ogbe revealed that Nigerian content value retention has surged from a mere 5 percent in 2010 to an impressive 56 percent as of December 2024. This milestone reflects the impact of the NCDMB’s decade-long roadmap to deepen local participation in oil and gas activities.
Ogbe also pointed to Nigeria’s evolving energy landscape and stressed the importance of positioning the country as both an attractive hydrocarbon investment hub and a model for sustainable development powered by local expertise.
Since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, Ogbe noted significant progress in capacity building, attracting investments, and increasing local value retention.
Supporting the NCDMB’s vision, President Bola Tinubu’s recent executive orders aim to leverage Nigeria’s resources fully and strengthen its standing as Africa’s preferred oil and gas investment destination. The “Nigeria First Policy,” championed by the President, aligns perfectly with NCDMB’s mission to drive local content execution beyond mere aspirations.
Ogbe highlighted that Nigerian companies now operate ISO-certified fabrication yards in key cities like Port Harcourt, Warri, and Lagos. The country also boasts modular refineries, pipe mills, and marine vessel ownership, demonstrating that Nigerians are delivering at the highest levels across the oil and gas value chain.
Yet, Ogbe warned that greater opportunities lie ahead, especially as Nigeria focuses on rebalancing its economy and increasing oil and gas production. He called for expanded indigenous participation across upstream, midstream, and downstream sectors.
The NCDMB is committed to enabling this growth by creating supportive policies, funding mechanisms, and strategic partnerships. Ogbe proudly announced the formation of the Africa Energy Bank, headquartered in Abuja, expected to open before the end of the second quarter of 2025. This financial institution aims to enhance funding access for Nigerian companies and further stimulate local industry growth.
Adding to the call, the Special Adviser to the President on Energy, Olu Verheijen, emphasized Nigeria’s transition from dependence on foreign firms to homegrown energy champions. She cited Nigeria’s largest single-train refinery, built entirely with African capital, as evidence of this shift.
Verheijen stated, “Local content is a pathway, not a destination. Every investment must translate into jobs and prosperity, ensuring value remains in our communities and companies.”
She encouraged the use of Nigerian steel in pipelines, and the employment of local engineers, welders, and innovators to drive economic transformation and sustainable job creation, particularly in places like Yenagoa.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, also underscored Nigeria’s critical role in Africa’s energy security, noting that Nigeria’s progress is essential for the continent’s overall success.
As Nigeria’s oil and gas sector continues to evolve, the unified message from the NCDMB and government leaders is clear: indigenous companies must be at the forefront of development, supported by robust policies, capacity building, and financial empowerment to secure a sustainable energy future for Nigeria and Africa.