The Executive Secretary of the Nigerian Content Development and Monitoring Board, Felix Ogbe, has urged international oil companies to engage local companies for their projects henceforth.
He recently revealed that it is always wise to use what we have at home first before thinking about going outside.
Speaking at the ongoing Nigerian Oil and Gas Opportunity Fair organised by the NCDMB in Yenagoa, Bayelsa State, Themed “Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development,” Ogbe said that the IOCs selling onshore assets to indigenous companies is a strategic shift towards deeper local participation that will yield good results.
Ogbe stated that with several available opportunities like UBETA, Bonga North, and Zabazaba coming onstream, Nigerian companies have more than enough chance to prove their capacity, therefore, it is important for IOCs to stop outsourcing.
“I use this opportunity to congratulate Renaissance, Seplat, Oando, and all our indigenous companies on their milestone achievements. I encourage you not to relent. We must sustain the momentum and come together to support this local content stride in terms of procurement, capacity building, knowledge transfer, job creation, and mentorship for upcoming investors.
I encourage the IOCs to make a conscious effort to engage local companies in line with the provisions of our laws. Let’s ensure we use what we have at home first before we ‘cannot go outside.
Let me be clear, no nation achieves energy security or industrial prosperity by outsourcing its core capabilities. Our strength must lie in the expertise of our people, the enterprise of our local businesses, and the robustness of our institutions. I cannot emphasise this enough!
To this extent, I charge the IOCs and indigenous operators to revamp our Human Capital Development initiatives. We are mindful of the numerous trainings already conducted. The need to quickly deliver more training is critical. With the increase in activities in the oil and gas industry, I urge that we step up our training. I look forward to your support in ensuring that all trainings under appropriate projects are conducted immediately,” he said.
Felix revealed that the NCDMB created a decade-long road map to deepen local participation and boost the participation of Nigerians in the activities of the oil and gas industry.
He insisted that as the global energy landscape continues to evolve, it is important for Nigeria to position itself as an effective hydrocarbon investment hub, while also serving as the home of viable development powered by local companies.
“Today, we have moved from five per cent in-country value retention in 2010 to 56 per cent in December 2024.
Since the enactment of the NOGICD Act in 2010, we have made remarkable progress in building the capability and capacity of Nigerians and of Nigerian companies, attracting critical investments in-country, and enhancing value retention,” he added.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
