Mkpoikana Udoma
Yenegoa — The federal government on Tuesday assured that no International Oil Company, IOC, was exiting the country, despite ongoing shifts in the global energy market.
The Minister of State for Petroleum Resources (Oil) Sen. Heineken Lokpobiri, who made the announcement, emphasized that while IOCs are moving from onshore to deep offshore operations, they remain committed to Nigeria’s oil and gas sector.
Lokpobiri spoke at the 13th Practical Nigerian Content Forum organized by the Nigerian Content Development and Monitoring Board, NCDMB, with the theme, “Defining the Next Frontier for Nigerian Content Implementation, in Yenagoa, Bayelsa State.
The Minister highlighted the success of Nigeria’s local content development, noting that the country’s ability to acquire divested assets from IOCs is a testament to the growing capacity of Nigerian companies in the sector.
“No IOC is leaving Nigeria, I assure you these IOCs are leaving onshore to deep offshore for sustainable growth.the divested assets are acquired by Nigerians and Nigerian companies. We have nothing to worry about; the future of Nigeria’s oil and gas sector is very bright.”
Lokpobiri also reaffirmed that Nigeria would not halt fossil fuel exploration, pointing out that no nation was abandoning its oil and gas activities.
He referenced the UK’s recent issuance of 100 new exploration licenses, Norway’s increased production, and the US’s commitment to more drilling under President-elect Donald Trump.
The Minister reiterated that for Africa’s oil and gas industry to thrive, Nigeria must continue to focus on developing its local capacity and remaining self-reliant in the face of global challenges. “Nobody can love you more than you love yourself. To grow, you must develop yourself,” Lokpobiri concluded.
Also speaking, the Group Chief Executive Officer of NNPC Limited, Mallam Mele Kolo Kyari, called on stakeholders in Nigeria’s oil and gas sector to intensify efforts in advancing local content development to ensure the country’s energy future and global competitiveness.
Kyari outlined the significant strides made since the enactment of the Nigerian Oil and Gas Industry Content Development, NOGICD Act in 2010, underscoring its transformative impact on local businesses and innovation.
He noted that the enactment of the Petroleum Industry Act in 2021, along with the recent Presidential Directive on Local Content Compliance, reinforced the government’s commitment to strengthening Nigerian content as a key national priority.
He further pointed to NNPC Limited’s efforts to enhance the capabilities of its service companies, including NNPC Engineering and Technical Company, NETCO and NNPC Energy Services, EnServ, as pivotal in driving local industry growth and attracting global investment.
“The PNC, which offers a unique opportunity to reflect on our progress and explore new avenues for enhancing Nigerian content in the energy sector, underpins the significant objectives of Nigerian content policy: hardwiring local benefit to oil industry investments, taking responsibility for knowledge-sharing, sharing best practices and demonstrating that the knowledge and capability to run our industry is in the right hands.”
“The Nigerian Content Development and Monitoring Board has been a cornerstone in driving the local content agenda forward. NCDMB’s unwavering efforts, commitment, and strategic initiatives have reassured us that we are maximizing the benefits of our rich resources and supporting the industrialization efforts of companies that are actively providing services within the Nigerian energy sector.
“At NNPC Limited, we will continue to collaborate with NCDMB and industry experts to achieve our goal of delivering value to our industry, while providing strong support for the Nigerian Content objectives.
“This year’s forum theme—Defining the Next Frontier for Nigerian Content Implementation—is not just a statement but a call to action. It highlights our collective goal of advancing Nigerian content across the energy sector and beyond our borders. It should inspire and motivate us to continue our efforts in this direction.”
