Mkpoikana Udoma
Yenagoa –-The Nigerian Content Development and Monitoring Board, NCDMB, has reiterated its commitment to deepening indigenous participation in the oil and gas industry, as the 5th edition of the Nigerian Oil and Gas Opportunity Fair, NOGOF, opened Tuesday in Yenagoa, Bayelsa State.
Declaring the event open, the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, emphasized that Nigeria must position itself as both an attractive hydrocarbon investment destination and a model for sustainable development driven by local capacity.
Ogbe stressed that the theme of the 2025 edition, “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development” is timely as Nigeria seeks to revitalize its hydrocarbon sector.
According to him, the industry has transitioned from aspiration to execution in Nigerian content development.
“This forum provides us with a strategic platform to share forward-looking insights, showcase upcoming projects, and deepen collaboration across the oil and gas value chain.
“From ISO-certified fabrication yards in Port Harcourt, Warri, Lagos, to modular refineries in Imo and Delta States, Nigerians are not just participating, they are delivering at the highest level,” he said.
Ogbe hailed the recent Executive Orders signed by President Bola Ahmed Tinubu aimed at enhancing investment, as well as the “Nigeria First Policy,” which he described as “a bold, forward-thinking move” for local content.
He also congratulated indigenous firms such as Renaissance, Seplat, and Oando on recent asset acquisitions, saying: “The sale of onshore assets by the IOCs to indigenous companies is a bold step and strategic shift towards deeper local participation and value retention.”
Highlighting the role of upcoming projects like Bonga North, Zabazaba and Ubeta, Ogbe urged international oil companies to engage local businesses: “Let’s ensure we use what we have at home first before we commot go outside oooo,” he quipped.
The NCDMB boss further charged operators to ramp up Human Capital Development (HCD) efforts, citing the urgency for training in line with increasing industry activities.
In a major announcement, Ogbe revealed that the Africa Energy Bank, with its headquarters in Abuja, will be open for business before the end of Q2 2025. “We are hopeful this will create more funding availability for local companies,” he added.
Also speaking, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, Engr. Gbenga Komolafe, lauded the progress made by indigenous firms.
“NOGOF is important for Nigeria’s economic future. It is a driving force behind investment and production growth,” Komolafe said, adding that attracting both local and foreign investment will require “an enabling environment characterized by stability and transparency.”
Chairman of Nestar Energies and former MD of ND Western, Engr. Eberechukwu Orji, underscored the importance of industry collaboration and innovation.
“My key message to everyone here, project providers, project promoters, service providers, is this: there is the need for deep industry collaboration.
He cited leading indigenous firms such as Seplat and the Renaissance group as evidence of what collaboration can achieve. “I would like to see that we are able to build an FPSO from start to finish in Nigeria very soon. But that can only be done with the power of collaboration,” he said.
As deliberations continue till Wednesday, stakeholders are expected to engage in sessions aimed at showcasing opportunities, improving local participation, and shaping a more resilient and sustainable oil and gas sector in Nigeria.
