NCDMB Places Priority On Oil, Gas Equipment’s Local Manufacturing

The Nigerian Content Development and Monitoring Board (NCDMB) says policy reforms and local-content initiatives have helped attract international projects and investment commitments worth more than $10 billion to Nigeria’s oil and gas sector over the past three years.

The Board says that it is widening its efforts to improve local industry capacity to tap into the growing industry investment.

The Executive Secretary of the Board, Engr Felix Omatsola Ogbe, stressed the point at a Strategic Leadership Roundtable Briefing during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), themed “Delivering the Energy the World Needs: Recalibrating Upstream Projects.” The session brought together 21 global industry leaders to discuss investment, project delivery, financing and sustainable growth.

Ogbe, highlighted revised Nigerian Content Contracting Guidelines which is intended to simplify and accelerate project approvals as well as the Nigerian Content Equipment Certificate (NCEC) Guidelines, which aim to discourage non-performing intermediary companies and allow Original Equipment Manufacturers to provide services directly for deepwater projects.

The above initiatives he outlined are expected to support local capacity building in the industry.

Ogbe who was represented by the General Manager of Corporate Communications of the Board NCDMB, Obinna Ezeobi, disclosed that Nigeria has attracted more than $10 billion in oil and gas projects and investments within three years, as he highlighted the Board’s investment-focused reforms.

He credited Executive Orders and incentives under President Bola Tinubu with supporting investor confidence and that the revised Nigerian Content Contracting Guidelines are intended to streamline project approvals.

According to him, The Board promoted local manufacturing, technology transfer and Nigerian participation in deepwater projects.

He also outlined the Board’s mandate to develop Nigerian human and material capacity, monitor compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, and facilitate investment in the sector.

He said Nigeria had attracted more than $10 billion in international oil and gas investments and projects over the past three years, crediting Executive Orders and strategic incentives introduced by the Tinubu administration.

He also attributed investment decisions to reforms by NCDMB, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd), saying they had improved investor confidence and regulatory processes.

Ezeobi said the Board’s engagement with industry stakeholders, particularly operating companies, had contributed to Final Investment Decisions (FIDs) and major projects.

The Executive Secretary, said the initiatives are expected to improve efficiency, increase direct participation and expand opportunities for Nigerian businesses. 

Ogbe also invited international operating and service companies to invest, adding that technology transfer, domestic capacity, local manufacturing and value addition remain central to the Board’s agenda.

The Nigerian delegation at the roundtable included NNPC E&P Limited Managing Director Nicolas Foucart and NNPC 18 Operating Limited Managing Director Ibiyemi Asaolu.

Participants discussed investment opportunities, navigating complex operating environments and supporting long-term growth. They also recommended diversifying upstream financing, accelerating field assessments, strengthening project delivery, increasing hydrocarbon recovery and building a more resilient energy future.

NCDMB also established an exhibition booth at ADIPEC to showcase Nigeria’s local-content processes, engage international stakeholders and attract potential investors to the oil and gas industry.

Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri and Petroleum Technology Association of Nigeria (PETAN) Chairman Engr Wole Ogunsanya visited the booth. Lokpobiri urged NCDMB to work with relevant agencies to promote Nigeria at major international petroleum conferences and present the country as an attractive investment destination