The Nigerian Content Development and Monitoring Board (NCDMB) has urged indigenous oil and gas companies to strengthen their operational capacity and competitiveness to take advantage of opportunities in international markets.
The Board identified access to assets, financing, technology and markets as essential factors for the sustainable growth of Nigerian businesses in the energy sector.
The appeal was made by the NCDMB’s General Manager of Corporate Communications, Dr Obinna Ezeobi, who represented the Board at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC), held on October 8 at Eko Hotel and Suites, Lagos.
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The conference, themed “Access to Assets: Empowering Players and Driving Growth,” focused on the importance of improving opportunities for indigenous companies to participate more actively in Nigeria’s oil and gas industry.
Ezeobi said the theme aligned with the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which seeks to increase Nigerian participation across the industry’s value chain.
He also highlighted the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, which aims to raise local content participation to 70 per cent by 2027.
According to him, the roadmap is designed to improve access to critical industry assets, develop local expertise and strengthen the ability of Nigerian companies to compete with international operators and service providers.
As part of efforts to achieve these objectives, the NCDMB has introduced several programmes to support indigenous businesses through financing, capacity development and access to industry opportunities.
One of the key interventions is the Nigerian Content Intervention Fund (NCI Fund), through which more than 130 indigenous companies have reportedly accessed over $400 million.
The fund is domiciled with the Bank of Industry and NEXIM Bank.
Ezeobi also highlighted Project 100, an initiative designed to support high-potential Nigerian companies through business development, financial linkages, market access and other forms of assistance.
Other interventions include the Nigerian Content Equipment Certification (NCEC), the Nigerian Oil and Gas Parks Scheme (NOGaPS) and vendor development programmes intended to strengthen local manufacturing and service delivery.
The Board is also facilitating partnerships between Nigerian and foreign companies to encourage technology transfer, improve technical expertise and help local businesses explore opportunities beyond Nigeria.
Ezeobi said Nigerian content participation had increased from 5 per cent in 2010 to 61 per cent, describing the progress as evidence of the impact of efforts to deepen local participation in the industry.
He, however, stressed that further progress would depend on equipping indigenous companies with the technical skills, technology and business systems required to compete effectively in international markets.
Industry Leaders Identify Barriers to Growth
In his welcome address, NAEC Chairman Ugo Amadi called for greater opportunities for indigenous companies to acquire and develop oil and gas assets.
He identified high entry costs, limited access to funding and lengthy approval processes as major obstacles preventing local businesses from expanding their operations.
Amadi’s remarks highlighted the financial and regulatory challenges that companies must overcome to participate more extensively in the ownership and development of energy assets.
Similarly, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, called for stronger collaboration and consolidation among indigenous oilfield service companies.
He said closer cooperation would enable local firms to combine their technical capabilities and resources to undertake larger and more complex projects.
Conference Chairman and Group Managing Director of Sahara Power Enterprise Group, Kola Adesina, represented by the company’s Head of Corporate Communications, Bethel Obioma, also emphasised the need to broaden the meaning of access in the energy sector.
Adesina argued that opportunities should extend beyond asset ownership to include financing, partnerships, technology, markets and access to ideas and expertise.
He noted that businesses often require capital, mentorship and strategic relationships before they can acquire the physical assets needed to expand their operations.
Government Highlights Gas Development Opportunities
The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, represented by his Senior Technical Adviser, Engr. Abel Nsa, said Nigeria needed to move beyond the ownership of its substantial gas reserves towards developing and converting them into economic value.
He explained that the Federal Government’s Decade of Gas initiative was designed to promote the productive use of natural gas across several sectors of the economy.
These include power generation, industrialisation, transportation, manufacturing, fertiliser production and wider adoption of liquefied petroleum gas (LPG).
According to the minister’s representative, effective development of the country’s gas resources could support industrial growth and create opportunities across the economy.
The discussions at the conference underscored the importance of improving access to finance, technology, markets and energy assets if indigenous companies are to expand their participation in Nigeria’s oil and gas industry.
While the NCDMB highlighted existing interventions and reported growth in Nigerian content participation, industry stakeholders pointed to continuing financial and operational barriers that require attention.
Achieving the sector’s local content objectives will depend not only on policy initiatives but also on how effectively indigenous businesses can access the resources, partnerships and opportunities needed to compete at home and abroad.
