By Peace Udugba — The Daily Torch Media
The Nigerian Content Development and Monitoring Board (NCDMB) has urged indigenous oil and gas companies to strengthen their technical capacity, secure greater access to industry assets and financing, and improve their competitiveness to expand their presence in domestic and international markets.
The Board said access to critical assets, technology, funding and business opportunities remained essential to increasing Nigerian participation in the oil and gas industry.
The NCDMB made the call at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC), held on October 8 at Eko Hotel and Suites, Lagos.
Speaking on behalf of the Board, its General Manager of Corporate Communications, Dr Obinna Ezeobi, said the conference theme, “Access to Assets: Empowering Players and Driving Growth,” aligned with the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
The legislation is designed to promote Nigerian participation in the oil and gas industry by creating opportunities for local businesses and professionals to develop the capacity required to compete effectively.
Ezeobi explained that the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, seeks to increase local content participation to 70 per cent by 2027.
He said the roadmap was built around five core pillars and four enabling factors aimed at expanding access to industry assets, developing local capabilities and strengthening indigenous operating and service companies.
NCDMB Fund Supports Over 130 Companies
Highlighting the Board’s interventions, Ezeobi identified the Nigerian Content Intervention Fund (NCI Fund) as one of its major initiatives for supporting indigenous businesses.
According to him, more than 130 Nigerian companies have accessed over $400 million through the fund, which is domiciled with the Bank of Industry and NEXIM Bank.
He also highlighted Project 100, an initiative designed to support high-potential indigenous companies through capacity development, market access, financial linkages and tailored business support.
Other initiatives include the Nigerian Content Equipment Certification (NCEC), the Nigerian Oil and Gas Parks Scheme (NOGaPS) and vendor development programmes aimed at strengthening local participation across the industry’s value chain.
Ezeobi said the Board was also facilitating partnerships between Nigerian and foreign companies while encouraging regional collaboration to help indigenous businesses expand into international markets.
He noted that Nigerian content participation 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 sustaining the progress would require indigenous companies to invest in skills, technology and effective business systems to compete globally.
NAEC, PETAN Seek Better Access for Local Firms
In his welcome address, NAEC Chairman Ugo Amadi called for expanded opportunities for indigenous companies to acquire and develop oil and gas assets.
He identified high entry costs, financing difficulties and lengthy approval processes as major barriers preventing local businesses from accessing valuable industry opportunities.
Similarly, the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr Wole Ogunsanya, called for greater consolidation and collaboration among indigenous oilfield service companies.
He said stronger partnerships would enable local firms to combine technical expertise, pool resources and execute larger projects.
Sahara Power Chief Highlights Wider Meaning of Access
The conference chairman and Group Managing Director of Sahara Power Enterprise Group, Kola Adesina, represented by the company’s Head of Corporate Communications, Bethel Obioma, said access should not be limited to the ownership of physical assets.
Adesina argued that access to capital, partnerships, markets, technology and opportunities was equally important to the growth of indigenous businesses.
He noted that successful transformation often began with access to ideas, mentors, financing and strategic partnerships before companies could acquire the physical assets required for expansion.
FG Seeks Greater Economic Value From Gas Resources
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 vast natural gas resources to their development, financing and conversion into sustainable economic value.
He explained that the Federal Government’s Decade of Gas initiative was designed to position gas as a driver of industrialisation and economic growth.
According to him, the initiative seeks to promote gas utilisation in power generation, transportation, manufacturing, fertiliser production and liquefied petroleum gas adoption, among other productive sectors.
The conference highlighted the need for improved access to financing, technology, partnerships and critical assets to enable indigenous companies to take on larger projects, deepen local participation and contribute more significantly to Nigeria’s energy sector development.
Tags: NCDMB, Nigerian Content Development and Monitoring Board, Nigerian oil and gas industry, local content, indigenous oil companies, Nigerian Content Intervention Fund, NAEC Energy Conference 2026, PETAN, Decade of Gas, Nigerian energy sector
