By Suleiman Aremu | Solaremnews | Friday 9, October, 2026
The Nigerian Content Development and Monitoring Board (NCDMB) has called on indigenous oil and gas companies to strengthen their capacity, access critical assets and improve their competitiveness to enable them to thrive in international markets.
The Board identified access to assets, financing, technology and markets as critical factors required to deepen local participation and promote sustainable growth in Nigeria’s oil and gas industry.
The General Manager, Corporate Communications Division of NCDMB, Dr. Obinna Ezeobi, made the call while representing the Board at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC), held on Thursday, October 8, at Eko Hotel and Suites, Lagos.
Speaking on the conference theme, “Access to Assets: Empowering Players and Driving Growth,” Ezeobi said the discussions aligned with the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which seeks to create opportunities for Nigerians to participate meaningfully and excel in the oil and gas industry.
He explained that the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, was designed around five core pillars and four enabling factors, with the target of increasing Nigerian content participation in the industry to 70 per cent by 2027.
According to him, the roadmap also seeks to expand skilled Nigerian professionals’ access to critical assets while strengthening the operational capacity and competitiveness of indigenous operating and service companies.
Ezeobi highlighted several flagship interventions introduced by the Board to help indigenous companies develop their capabilities, secure financing and access opportunities across the oil and gas value chain.
Among the initiatives is the Nigerian Content Intervention Fund (NCI Fund), through which more than 130 indigenous companies have accessed over $400 million.
He said the fund, domiciled with the Bank of Industry and the Nigerian Export-Import Bank (NEXIM Bank), provides financial support to local businesses seeking to expand their operations and participate more effectively in the industry.
The NCDMB official also identified Project 100 as another important initiative aimed at supporting high-potential indigenous companies through capacity development, improved market access, financial linkages and tailored business support.
Other programmes include the Nigerian Content Equipment Certification (NCEC), the Nigerian Oil and Gas Parks Scheme (NOGaPS) and vendor development initiatives designed to deepen local participation and improve the competitiveness of Nigerian companies.
Ezeobi further disclosed that the Board was facilitating partnerships between Nigerian and foreign companies while encouraging regional collaboration to enable indigenous businesses to expand their operations beyond Nigeria.
He expressed satisfaction with the progress recorded in local content development, noting that Nigerian content participation in the oil and gas industry had increased from five per cent in 2010 to 61 per cent after 16 years of implementing the Nigerian Content Act.
However, he stressed that the next phase of development must focus on equipping indigenous companies with the technical skills, technology and business systems needed to compete effectively in the global marketplace.
In his welcome address, NAEC Chairman, Ugo Amadi, called for expanded opportunities for indigenous companies to acquire and develop oil and gas assets.
Amadi identified high entry costs, funding constraints and lengthy approval processes as major obstacles preventing local companies from participating more actively in asset ownership and development.
He urged stakeholders to address these challenges to enable indigenous businesses to take advantage of opportunities within the country’s oil and gas industry.
Similarly, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, called for greater consolidation and collaboration among indigenous oilfield service companies.
Ogunsanya said stronger cooperation would enable local firms to pool their technical capabilities, improve operational efficiency and undertake larger projects that might be difficult for individual companies to execute.
He emphasised the importance of building stronger indigenous businesses capable of meeting the technical and operational requirements of major oil and gas projects.
The Conference Chairman and Group Managing Director of Sahara Power Enterprise Group, Mr. Kola Adesina, represented by the company’s Head of Corporate Communications, Bethel Obioma, said access to opportunities in the energy sector should extend beyond the ownership of physical assets.
Adesina noted that access to capital, partnerships, markets, technology and business opportunities was equally important to the growth and development of companies.
He maintained that access was much broader and more significant than assets alone, explaining that transformational journeys often began with access to ideas, mentors, capital and strategic partnerships before businesses could acquire physical assets.
According to him, creating an enabling environment for businesses to access these critical resources would help unlock growth opportunities and strengthen the capacity of players across the energy value chain.
Also speaking at the conference, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo, represented by his Senior Technical Adviser, Engr. Abel Nsa, stressed the need for Nigeria to move beyond the ownership of its abundant gas resources to their effective development and conversion into sustainable economic value.
He explained that the Federal Government’s Decade of Gas initiative was designed to transform Nigeria from a resource-rich country into one that maximises gas resources for industrialisation and economic growth.
According to him, the initiative seeks to promote the utilisation of gas for power generation, transportation, manufacturing, fertiliser production, liquefied petroleum gas (LPG) adoption and other productive activities.
He noted that developing the country’s gas resources and creating opportunities for their productive use would support industrial expansion, strengthen economic activities and improve the contribution of the energy sector to national development.
The conference brought together industry stakeholders, government representatives, indigenous service providers and energy correspondents to examine ways of expanding access to assets and other critical resources required to drive growth in Nigeria’s energy sector.
The discussions highlighted the importance of financing, technology, partnerships, efficient regulatory processes and stronger indigenous capacity in enabling Nigerian companies to participate more effectively in the oil and gas industry and compete in international markets.
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