The Nigerian oil and gas sector has reached a major milestone, with local content now accounting for an impressive 56%. This achievement was unveiled by the Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday, marking a significant step in the country’s efforts to strengthen its indigenous participation in the industry.
Felix Ogbe, Executive Secretary of NCDMB, announced during a press briefing ahead of the 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF), set for May 21-22 in Yenagoa, Bayelsa State. According to Ogbe, the board is actively working to further enhance this figure through ongoing reviews, ensuring that local investments continue to grow.
The local content drive has been pivotal, with the government’s three Presidential directives playing a crucial role in unlocking new investments and driving sustainable growth. Ogbe highlighted that the latest review of local content reached 56%, with further assessments underway to gauge more precise figures. This marks a promising trajectory for the future, showing a significant increase in the value generated locally within the oil and gas sector.
“The level of local content in the sector has grown to 56% as of the latest count,” Ogbe stated. “We are excited about the ongoing review, which will give us an updated perspective on the progress we have made.”
One of the most notable outcomes of this growth has been the success of the Nigerian Oil and Gas Opportunity Fair (NOGOF), where over 100 investment opportunities were presented in 2023. Ogbe mentioned the completion of critical projects like the Ubeta and Bonga North fields, demonstrating the tangible progress being made in both upstream and downstream sectors.
NOGOF serves as a platform for companies to present upcoming projects, aiming to meet Nigeria’s aspirations to boost gas and crude oil production, increase revenue, and fulfill domestic supply obligations. The event also provides an invaluable opportunity for service companies, manufacturers, and job seekers to invest in infrastructure, capabilities, and workforce development, helping to “domicile” most activities within the country.
Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria (PETAN), praised the NCDMB for its transformative role in expanding Nigeria’s oil and gas value chain. He pointed to the recent acquisition of oil and gas assets by Nigerian companies from international oil giants as a key example of the growing local content.
Ogunsanya emphasized how these deals, such as the ExxonMobil and Shell SPDC agreements, are changing the landscape. He noted that the oil previously exported out of the country will now be retained locally, allowing Nigerian companies to reap the benefits. For instance, Renaissance, a Nigerian company, now receives 45% of the profit from the SPDC deal, a perfect illustration of how local content is becoming increasingly vital.
As the 2025 NOGOF approaches, the theme of the event, “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development,” will serve as a guidepost for the future of Nigeria’s oil and gas sector. The biennial event remains essential in driving forward the goals set by the Nigerian Oil and Gas Industry Content Development Act 2010, working toward the goal of further growth and self-sufficiency in the industry.
With local content on the rise, Nigeria’s oil and gas sector is clearly charting a course toward a more sustainable, self-reliant future, positioning itself as a leader in African energy production.
