Mkpoikana Udoma
Yenagoa — Nigeria is witnessing a transformational shift in its energy sector, from a model of raw extraction to one of industrialized value creation, top government officials declared on Tuesday at the opening of the 5th Nigerian Oil and Gas Opportunity Fair, NOGOF, in Yenagoa, Bayelsa State.
Delivering a stirring goodwill message virtually, the Special Adviser on Energy to President Bola Tinubu, Mrs. Olu Verheijen, praised the Nigerian Content Development and Monitoring Board, NCDMB, or shaping a future where local players lead the charge in developing the nation’s vast hydrocarbon resources.
Verheijen emphasized that local content must not be viewed as a final destination but a continuous path toward national prosperity.
“We are witnessing the unstoppable rise of Nigerian energy champions, from the world’s largest single train refinery to local firms acquiring onshore ventures once held by international companies.
“These are more than milestones. They are markers of a nation in transition, from dependence to production, from extraction to value creation. This is what President Tinubu envisions, a country that produces, that builds, and one that leads.
“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 charged.
Verheijen also made a passionate appeal for Nigerian resources and human capital to drive local industrialization.
“Let Nigerians’ steel go into our pipelines. Let our engineers, our welders and innovators power this economic transformation. The renewed hope agenda is not abstract. It’s about building an energy sector that works for Nigerians… that creates sustainable jobs in Yenagoa, Warri, Port Harcourt, Uyo, and Calabar.”
Representing the Minister of State for Petroleum Resources (Gas), Mr. Ekperikpe Ekpo, the Permanent Secretary of the Ministry, Mr. Emeka Obi, said NOGOF has become a strategic marketplace for investment matchmaking, capacity development, and policy discourse.
“I must commend NCDMB for consistently organizing this platform. NOGOF continues to drive investment alignment, stakeholder intent, and national ambition. It has evolved into a platform of substance.”
He revealed that Nigeria’s local content in oil and gas had grown from a meager 5% in 2010 to over 54% by the end of 2024. “This impressive trajectory underscores what is possible through clear policy direction and stakeholder commitment,” Ekpo noted.
However, he acknowledged that challenges persist. “In Q1 2025, we averaged 1.43 million barrels per day, including condensates, which is still below our target of 1.8 million barrels per day. We also continue to import refined petroleum products despite improving reserves and modular refinery initiatives.”
Ekpo stressed that more must be done to bridge the gap between potential and performance.
Earlier, NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, in his welcome address, reaffirmed the Board’s dedication to building Nigerian capabilities across the oil and gas value chain.
“With projects like Bonga North, Zabazaba and Ubeta coming onstream, the real opportunity lies ahead. Let’s ensure we use what we have at home first before we commot go outside oooo,” he urged, eliciting applause.
As deliberations continue, the tone has been set for a future where Nigeria’s energy sector no longer exports potential, but industrializes it,creating lasting jobs, building local industries, and securing long-term economic value for Nigerians.
