December 04, (THEWILL) – The Nigerian Content Development and Monitoring Board (NCDMB) has reported an increase in local content in the oil and gas sector from 54% in 2023 to 56% in 2024, surpassing the 50% target for the year and progressing toward its 70% goal by 2027.
Executive Secretary of the NCDMB, Engr Felix Omatsola Ogbe, made this known on Tuesday, at the opening of the 13th Practical Nigerian Content Forum in Yenagoa, Bayelsa State.
Speaking on the theme “Defining the Next Frontier of Nigerian Content Implementation,” Ogbe said the success reflected significant progress since the Board established the NOGICD Act in 2010.
The ES, who said Nigeria’s content transits from 20 percent in 2016 to 56 percent in 2024, also outlined key initiatives under his leadership aimed at achieving the Board’s 70% local content target by 2027.
Among these is the Back to the Creek initiative, designed to enhance human capacity in oil and gas host communities through scholarships for higher education.
He also highlighted some outstanding achievements of the board under his stewardship in the past one year. These include the Commissioning of Amal Technologies in Idu, Abuja and the Kwale Gas Gathering facility in Delta State, approval of 312 Nigerian Content Plans, and 402 Nigerian Content Compliance Certificates (NCCCs) were issued to the board amongst others.
Ogbe also announced plans to revise the Community Contractor Fund, allocating N15 billion to help overcome obstacles faced by community contractors, with a reduced interest rate of 5% per annum.
“This initiative addresses a critical challenge faced by local contractors—limited access to funding for contracts awarded by oil and gas companies”, he said.
The Board has, therefore, increased the single obligor limit from N20 million to N100 million to ease access to funding. Ogbe also highlighted some outstanding achievements of the board under his stewardship in the past one year.
Ogbe also revealed plans of the board to establish more Zonal offices and renovate existing offices to improve operational efficiency.
“As part of our commitment to further deepen Nigerian content in the oil and gas industry, we are committing to developing more conducive and befitting Zonal Offices. This will enable us to deploy our personnel across various Directorates to operate fully from our Zonal offices thereby, making the Zonal offices to be fully operational”, he said.
The Nigerian Content Academy was also introduced as a cornerstone of the Board’s commitment to capacity development, offering comprehensive training in various aspects of the oil and gas value chain.
Recognitions for the NCDMB’s exemplary performance included being ranked first in the Presidential Enabling Business Environment Council (PEBEC) and receiving the Nigeria GovTech Award.
Ogbe concluded with a call for collaboration and resilience, urging stakeholders to embrace innovation and action to elevate Nigeria’s local content standards further. The forum, attended by industry leaders and government officials, reinforced the importance of partnerships in achieving a sustainable and globally competitive oil and gas sector.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
