The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with the Nigerian Content Consultative Forum (NCCF), held a high-level strategic retreat focused on reinforcing Nigeria’s local content policies and mapping out long-term strategies for the oil and gas industry.
The event took place on Monday 30, March 2026, and it attracted stakeholders from across the sector to evaluate achievements, tackle persistent obstacles, and formulate concrete measures aimed at driving future expansion and sustainability.
Participants reviewed the transformative effects of the Nigerian Oil and Gas Industry Content Development Act (NOGICD) of 2010, which has served as the foundation for local content initiatives.
Since its enactment in the country, content levels have soared sharply from about 5 per cent in 2010 to 56 per cent by the end of 2024. Officials projected further growth to 70 per cent by 2027.
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Nigerian ownership of marine vessels in the industry increased from 5 per cent to 40 per cent, while the initiatives created more than 50,000 direct jobs over the past 11 years. The policies have also helped retain roughly $8 billion in value within the country each year.
Key programmes showcased during the retreat included a $50 million research and development fund, development of modular refineries, floating production storage and offloading (FPSO) infrastructure, establishment of oil and gas parks, and enhanced access to finance via the Nigerian Content Intervention Fund.
The Petroleum Industry (PIA) Act has bolstered governance structures and promoted greater indigenous involvement.
Despite these advances, attendees stressed the importance of stronger enforcement mechanisms, greater transparency, robust performance monitoring, and closer alignment with broader industrialisation objectives.
Particular attention was given to accelerating technology transfer and boosting local manufacturing capabilities.
The retreat concluded with a renewed pledge to advance deeper local participation, enhance governance standards, and ensure sustainable growth across Nigeria’s oil and gas value chain.
