The Nigerian Content Development and Monitoring Board (NCDMB) has urged indigenous oil and gas companies to strengthen their operational capacity, technological capabilities and access to financing to compete effectively in international markets.
The Board identified access to assets, capital, technology and markets as critical factors required to accelerate the growth of Nigerian companies and expand their participation in the global oil and gas industry.
The General Manager, Corporate Communications, NCDMB, Dr. Obinna Ezeobi, made the call at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, where he represented the Board.
Speaking on the conference theme, “Access to Assets: Empowering Players and Driving Growth,” Ezeobi said the discussions aligned with the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which seeks to create opportunities for Nigerians to participate meaningfully in the oil and gas sector.
He explained that the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, was designed around five core pillars and four enabling factors, with the target of increasing local content participation to 70 per cent by 2027.
According to him, the roadmap also seeks to improve access to critical industry assets for qualified Nigerian professionals while strengthening the capacity and competitiveness of indigenous operating and service companies.
Ezeobi highlighted several interventions introduced by the Board to help Nigerian companies develop their capabilities, secure financing and access opportunities across the oil and gas value chain.
Among the initiatives is the Nigerian Content Intervention Fund (NCI Fund), through which more than 130 indigenous companies have accessed over $400 million.
The fund is domiciled with the Bank of Industry and the Nigerian Export-Import Bank (NEXIM Bank).
He also cited Project 100, an initiative designed to support high-potential indigenous companies through capacity development, market access, financial linkages and tailored business support.
Other programmes include the Nigerian Content Equipment Certification (NCEC), the Nigerian Oil and Gas Parks Scheme (NOGaPS) and vendor development initiatives aimed at deepening local participation and improving the competitiveness of Nigerian businesses.
The NCDMB spokesman said the Board was also facilitating partnerships between Nigerian and foreign companies and promoting regional collaboration to enable indigenous firms to expand their operations beyond Nigeria.
He noted that Nigerian content in the oil and gas industry had increased from five per cent in 2010 to 61 per cent after 16 years of implementing the Nigerian Content Act.
However, he stressed that the next phase of development must focus on equipping indigenous companies with the skills, technology and business systems required to compete successfully in international markets.
Earlier, NAEC Chairman, Ugo Amadi, called for expanded opportunities for indigenous companies to acquire and develop oil and gas assets, identifying high entry costs, funding constraints and lengthy approval processes as major obstacles.
Amadi said addressing these challenges would help local companies participate more effectively in the ownership and development of strategic industry assets.
Similarly, Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, advocated consolidation and stronger collaboration among indigenous oilfield service companies.
He said greater collaboration would enable local firms to pool technical expertise, strengthen their capabilities and execute larger projects that might be beyond the capacity of individual companies.
The Conference Chairman and Group Managing Director of Sahara Power Enterprise Group, Mr. Kola Adesina, represented by the company’s Head of Corporate Communications, Bethel Obioma, said access to opportunities in the oil and gas industry must go beyond asset ownership to include capital, partnerships, markets, technology and business opportunities.
According to Adesina, “access is actually much greater and more important than assets,” noting that transformational growth often begins with access to ideas, mentors, capital and partnerships before the acquisition of physical assets.
He stressed that expanding access across these areas would enable businesses to build the capabilities required for long-term growth and sustainability.
Also speaking, the Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo, represented by his Senior Technical Adviser, Engr. Abel Nsa, said Nigeria must move beyond ownership of its abundant gas resources to focus on their development, financing and conversion into sustainable economic value.
Ekpo said the Federal Government’s Decade of Gas initiative was aimed at transforming Nigeria from a resource-rich country into one that effectively deploys gas to drive industrialisation and economic growth.
He listed power generation, transportation, manufacturing, fertiliser production and the adoption of liquefied petroleum gas (LPG) among the areas where gas could support economic development.
The minister’s representative emphasised that unlocking the country’s gas potential would require investments, effective financing and the development of infrastructure to support wider utilisation across productive sectors of the economy.
