December 14, (THEWILL) – The Nigerian Content Development and Monitoring Board has signed a major contract with Julius Berger PLC for the development of the Oloibiri Museum and Research Centre in Bayelsa State.
The historic project, set to be located in Otuabagi, Ogbia Local Government Area, marks a significant step in preserving the legacy of Nigeria’s hydrocarbon industry.
In a statement released by the NCDMB Corporate Communications Department, the board’s Executive Secretary, Felix Ogbe, signed the engineering, procurement, and construction contract at the NCDMB liaison office in Abuja on Thursday.
The project, slated for completion within 30 months, will be executed through a partnership between the Petroleum Development Technology Fund (PTDF), NCDMB, Shell Petroleum Development Company/Nigerian National Petroleum Company Limited and the Bayelsa State Government.
The funding contributions are split among the partners: PTDF (40%), NCDMB (30%), SPDC/NNPCL (20%), and Bayelsa State Government (10%). The project will operate as a company limited by guarantee, with the four organizations as stakeholders.
Ogbe expressed satisfaction with the contract signing, noting that the project would bring economic benefits to Bayelsa State and the nation during both construction and operational phases.
He described the OMRC as a significant initiative to honour Oloibiri, the birthplace of Nigeria’s oil and gas industry, where crude oil exploration began in 1958.
“The museum and research centre will not only preserve the legacy of Nigeria’s hydrocarbon industry but also create opportunities for research, innovation, and economic development,” Ogbe said.
He also highlighted President Bola Tinubu’s support for the project, emphasizing the importance of multi-stakeholder collaboration in bringing the initiative to life.
The OMRC will serve as a world-class facility dedicated to the history and future of Nigeria’s oil and gas sector.
Beyond preserving Nigeria’s petroleum heritage, the OMRC is expected to stimulate new commercial value chains and create employment opportunities in the oil-producing region.
It will also attract tourists, researchers, and industry professionals from around the world, further contributing to the socio-economic development of Bayelsa State and Nigeria at large.
Amos Okioma is a Correspondent at THEWILL
