By Rhoda Godwin
In furtherance of strengthen the oil industry, Engr. Felix Omatsola Ogbe, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has emphasized the critical role of indigenous capacity in driving investment and sustainable growth.
Ogbe made the call on Wednesday at the 5th edition of the Nigerian Oil and Gas Opportunities Fair, (NOGOF) 2025, at the Local Content Towers in Yenagoa, Bayelsa state capital.
Ogbe who spoke on the theme of the fair, “Driving Investment and Production Growth: Shaping a sustainable Oil and Gas Industry through Indigenous Capacity Development’’, said the forum provides a strategic platform to share forward-looking insights, showcase upcoming projects, and deepen collaboration across the oil and gas value chain.
” Today, we have moved from 5% in-country value retention in 2010 to 56% in December 2024. As the global energy landscape evolves, Nigeria must position herself as an attractive hydrocarbon investment destination and also as a beacon of sustainable development powered by local companies.
“What we do in the Board has been further reiterated by President Bola Tinubu’s newly introduced “Nigeria First Policy,” it is a “bold, forward-thinking move” for our Nigerian Content drive. We must commend Mr. President for this laudable initiative. Today, we are proud to say that Nigerian content has moved from aspiration to execution.
” From well equipped, ISO certified fabrication yards in Port Harcourt, Warri, Lagos, to modular refineries in Imo and Delta States, and from pipe mills to marine vessel ownership, Nigerians are not just participating—they are delivering at the highest level.
“As we move towards rebalancing our economy and increasing oil and gas production, it is imperative that we deepen indigenous participation—not only in upstream services but across midstream and downstream operations,” he said.
He concluded by reaffirming NCDMB’s commitment to supporting Nigerian businesses and fostering innovation for a sustainable and resilient oil and gas industry.
On his part, the Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, described NOGOF as not just a fair but a national platform that fosters catalytic investment opportunities cutting across the upstream, midstream and downstream areas of the Nigeria’s oil and gas industry.
“The Petroleum Industry Act has streamlined regulations, while executive reforms cut red tape, inviting global and local investors to seize bankable opportunities..
“We must be united in purpose, confident in our capacity, and committed to sustainable growth. Let NOGOF 2025 be remembered not for speeches, but for action. Not for promises, but for partnerships. And, not for visions, but for ventures,” he concluded.
Declaring the event open, the Bayelsa State Governor, Senator Douye Diri again called on the National Assembly to review the Petroleum Industry Act (PIA), to enable states in oil producing areas play statutory roles in overseeing development projects.
Represented by his deputy, Senator Lawrence Ewhrudjakpo, Gov Diri averred that, while the extant PIA empowers oil and gas bearing communities to directly receive oil proceeds accruing to them without recourse to state governments, hostilities emanating from the management of such funds were always being channeled to government for settlement.
“The current PIA does not give any responsibility to the state government but rather a lot of liabilities. When the IOCs bypass the state government and deal directly with our communities which unfortunately do not have stable and reliable structures to handle such investments, it gives room for hostilities.
“Our call is on the National Assembly to look at the possibility of rejigging the PIA to prescribe statutory roles for host governments. Also, the attitude of the IOCs is not different from the indigenous oil firms that have taken over their assets.”
Senator Diri equally expressed displeasure over the exclusion of host governments in the Shell Petroleum Development Company and Agip Oil Company’s divestment of their shares, despite its operations for over 70 years in the Niger Delta.
In a goodwill message, the Special Adviser to the President on Energy, Mrs Olu Verheijen, said the current federal government was building an energy sector to benefit every Nigerian by driving industrialization and creation of sustainable jobs.
