NCDMB calls for greater access to assets to boost indigenous participation in Nigeria's energy sector
The Nigerian Content Development and Monitoring Board (NCDMB) has called on indigenous oil and gas companies to strengthen their capacity and competitiveness in international markets.
In Brief
- •The Nigerian Content Development and Monitoring Board (NCDMB) has called on indigenous oil and gas companies to strengthen their capacity and competitiveness in international markets.
- •NCDMB identified access to assets, financing, technology, and markets as critical drivers of sustainable growth in the energy sector.
- •Over 130 indigenous companies have accessed more than US$400 million through the Nigerian Content Intervention Fund (NCI Fund).
- •NCDMB highlighted several flagship interventions, including Project 100, Nigerian Content Equipment Certification (NCEC), and the Nigerian Oil and Gas Parks Scheme (NOGaPS).
- •The Nigerian Content 10-Year Strategic Roadmap aims to raise local content participation to 70 percent by 2027.
Why It Matters
The push for greater access to assets and resources is crucial for boosting indigenous participation in Nigeria's energy sector. This initiative aims to create meaningful opportunities for Nigerians to excel in the industry, which is vital for economic growth and job creation. By strengthening the capacity and competitiveness of local companies, Nigeria can better leverage its vast oil and gas resources and contribute more significantly to the global energy market.
Key Details
- Local Content Participation
- 61% (2026)
- Target Local Content Participation
- 70% (2027)
- Indigenous Companies Accessed Funds
- 130+
- Funds Accessed Through NCI Fund
- US$400 million+
Context & Background
The Nigerian Content Act was established to create opportunities for Nigerians to participate in the oil and gas industry. The Nigerian Content 10-Year Strategic Roadmap, launched in 2017, aims to increase local content participation and strengthen the competitiveness of indigenous companies.
Original Reporting & Sources
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