The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Felix Omatsola Ogbe, has called on international oil companies (IOCs) operating in Nigeria to actively engage local companies in their oil and gas projects. Ogbe made this call on Thursday during the Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025, which is currently taking place in Yenagoa, Bayelsa State.
The event, which is organised by the NCDMB, is themed “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development”. It brought together key players in the oil and gas industry to discuss investment opportunities, local content development, and capacity building.
In his welcome speech, Ogbe praised the recent sale of onshore assets by international oil firms to Nigerian companies, describing the move as a bold and strategic shift towards greater local participation and value retention. He congratulated indigenous oil firms like Renaissance, Seplat Energy, and Oando Plc for acquiring these assets and urged them to remain focused and committed.
“I encourage you not to relent. We must sustain the momentum and come together to support this local content stride in terms of procurement, capacity building, knowledge transfer, job creation, and mentorship for upcoming investors,” Ogbe said.
He urged IOCs to avoid outsourcing critical services abroad, saying Nigerian companies now have the capacity to handle big projects like the UBETA, Bonga North, and Zabazaba fields. He stated, “Let’s ensure we use what we have at home first before we go outside. No nation achieves energy security or industrial prosperity by outsourcing its core capabilities.”
Ogbe stressed the need for IOCs and indigenous oil companies to invest more in training and human capital development. “With the increase in activities in the oil and gas industry, I urge that we step up our training. I look forward to your support in ensuring that all trainings under appropriate projects are conducted immediately,” he said.
He revealed that the NCDMB had earlier designed a 10-year roadmap aimed at increasing Nigerian participation in the oil and gas sector. According to him, local content value retention in Nigeria has grown from just 5% in 2010 to 56% as of December 2024.
He said Nigeria must now position itself as both an attractive hydrocarbon investment destination and a model for sustainable development powered by local companies. “From pipe mills to modular refineries, Nigerians are not just participating—they are delivering at the highest level,” Ogbe stated.
He also announced the upcoming launch of the Africa Energy Bank, which will be headquartered in Abuja. The bank, expected to begin operations before the end of Q2 2025, is aimed at providing funding for indigenous companies across the continent.
Special Adviser to the President on Energy, Ms. Olu Verheijen, also spoke at the event. She echoed Ogbe’s message and said Nigeria is moving from dependence to production, and from extraction to value creation.
She said, “Local content is not a destination. It is a pathway. Every dollar invested must translate into jobs. Every project must translate into prosperity. The value must stay here—in our communities, in our companies, in the hands of our people.”
She added that Nigeria must begin to industrialise its energy sector by using Nigerian-made steel, engineers, welders, and local talent to build infrastructure. She said this will help achieve the goals of President Bola Tinubu’s Renewed Hope Agenda.
Also speaking, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said Nigeria holds a leading position in Africa’s energy space and must play a key role in achieving energy security for the continent. He added that if Nigeria cannot achieve these goals, no other country in Africa will.
The NOGOF 2025 fair continues to provide a platform for local and international stakeholders to explore how to increase local participation in Nigeria’s oil and gas industry and drive inclusive growth across the value chain.
