The Nigerian Content Development and Monitoring Board (NCDMB) has rolled out a wider strategy to grow local refining capacity and reduce the export of raw crude that adds little value to the economy.
The Board said Nigeria is shifting from a major crude oil producer to a processor and exporter of finished and semi-finished energy products. Officials made the disclosure at the 2026 Nigerian Oil and Gas Midstream and Downstream Summit held in Lagos on Tuesday 19 May 2026.
NCDMB noted that its efforts to promote local participation have raised the local content index significantly. The Board said the figure climbed from less than five per cent in 2010 to 61 per cent in 2025.
Austin Azuka, Head of Directorate (Planning, Research and Statistics), who spoke on behalf of NCDMB Executive Secretary Felix Ogbe, said the Board is now focusing on midstream and downstream sectors as key drivers of investment, industrialisation, job creation and economic growth.
He highlighted opportunities in gas processing, refining, petrochemicals, pipelines, LPG, CNG and logistics. Azuka praised the Dangote Refinery as a major symbol of Nigeria’s industrial ambition and self-sufficiency.
Patrick June, Acting Manager of Midstream Monitoring at NCDMB, revealed fresh data showing operating companies in the sector rose from fewer than 10 to about 117. He said the growth created 11,934 jobs.
Chairman of the Senate Committee on Petroleum Resources (Midstream and Downstream), Senator Kawu Sumaila, described local content development as a national priority. He called for better financing, technical capacity building and stronger support for indigenous firms and SMEs.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also pledged continued support for local content growth and investments in the sector.
Industry stakeholders at the summit expressed optimism that these developments will unlock greater value and create more opportunities across Nigeria’s oil and gas value chain.
