Amgbare Ekaunkumo, Yenagoa
At the 5th Nigerian Oil and Gas Opportunity Fair (NOGOF) 2025 in Yenagoa, key stakeholders emphasized Nigeria’s progress in local content development and the need for strategic partnerships to drive sustainable growth in the oil and gas sector.
The Honourable Minister of Petroleum Resources (Oil), Senator Heineken Lokpobiri, positioned NOGOF 2025 as a critical platform for fostering catalytic investments across Nigeria’s oil and gas value chain.
He urged participants to move beyond discussions and form concrete partnerships to reshape the industry’s future, aligning with Nigeria’s economic development goals.
Lokpobiri highlighted the event’s role in connecting upstream, midstream, and downstream opportunities, emphasizing credible information sharing to inform investment decisions for upcoming projects. Noting the 15th anniversary of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, he underscored its significance in showcasing Nigeria’s local content achievements.
He praised the Nigerian Content Development and Monitoring Board (NCDMB) under Engr. Felix Omatsola Ogbe for advancing indigenous capacity through initiatives like the Nigerian Oil and Gas Parks Scheme.
Lokpobiri urged operators like Sterling Oil to comply with local content regulations and called for a unified approach to address divestment and community development challenges, ensuring Nigeria’s global competitiveness while delivering value to local communities.
Bayelsa State Deputy Governor, Senator Lawrence Ewhrudjakpo, representing Governor Senator Douye Diri, called for amendments to the Petroleum Industry Act (PIA) to grant oil-producing state governments statutory roles in community development projects.
He criticized the PIA’s direct fund allocations to communities, noting their lack of capacity often leads to conflicts that state authorities must resolve.
Ewhrudjakpo also expressed concern over Bayelsa’s exclusion from Shell and Agip’s divestment processes, despite the state supplying 60% of Nigerian Liquefied Natural Gas feedstock, highlighting the need for fairer inclusion of host states in industry decisions.
NCDMB Executive Secretary, Engr. Felix Omatsola Ogbe, celebrated the transformative impact of the NOGICD Act on its 15th anniversary, noting significant growth in local participation since 2010.
He highlighted President Bola Tinubu’s “Nigeria First Policy” and three Executive Orders as bold moves to revitalize the sector and position Nigeria as Africa’s preferred oil and gas investment destination.
Ogbe praised indigenous companies like Renaissance, Seplat, and Oando for acquiring onshore assets from international oil companies (IOCs), marking a strategic shift toward deeper local involvement.
He urged IOCs to prioritize local firms for projects like UBETA, Bonga North, and Zabazaba, stating, “No nation achieves energy security by outsourcing its core capabilities.” Ogbe announced the Africa Energy Bank, set to launch in Abuja by mid-2025, to provide funding for local companies, and emphasized NCDMB’s initiatives like the NOGTECH Hackathon and Nigerian Oil and Gas Parks Scheme to foster innovation and capacity building.
He stressed the importance of human capital development, calling for intensified training programs to meet rising industry demands.
Also speaking, Hon. Boma Goodhead, Chairman of the Federal House Committee on Local Content Development, emphasized that local content extends beyond employment to in-country value addition.
She underscored the need for Nigerian companies to adopt global standards, invest in capacity building, and form strategic alliances to compete not only in Nigeria but across Africa, reinforcing the push for a sustainable industry driven by local expertise.
