The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omotsola Ogbe, has urged international oil companies (IOCs) to prioritize Nigerian firms in oil and gas projects, warning that no country thrives by outsourcing its core competencies.
Speaking at the 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, Ogbe applauded the recent asset sales from IOCs to indigenous players like Renaissance, Seplat, and Oando, describing the moves as “a bold step and strategic shift towards deeper local participation and value retention.”
“I encourage the IOCs to make a conscious effort to engage local companies in line with the provisions of our laws,” Ogbe said. “Let’s ensure we use what we have at home first before we cannot go outside.”
He emphasized the need for more training and human capital development, stating, “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.”
Highlighting progress made, Ogbe revealed, “We have moved from five per cent in-country value retention in 2010 to 56 per cent in December 2024.”
The NCDMB boss also announced the forthcoming launch of the Africa Energy Bank, expected to be operational by Q2 2025 with its headquarters in Abuja. “We are hopeful this will create more funding availability for local companies,” he said.
Backing Ogbe’s position, Presidential Adviser on Energy, Olu Verheijen, added, “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.”Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, echoed the sentiment, saying, “Whatever Nigeria cannot achieve will not be achieved in Africa.”
With increasing indigenous capacity and government backing, the NCDMB is pushing for a future where Nigeria leads its own oil and gas transformation.
