NCDMB and Stakeholders Urge Stronger Local Content as Inaugural Summit Ends

Stakeholders have called for a more strategic approach to the implementation of local content in Nigeria’s oil and gas sector, marking the conclusion of a two-day summit organised by Vanguard Newspaper in partnership with the Delta State Government and the Nigerian Content Development and Monitoring Board (NCDMB). The summit stressed the critical role of local content in advancing the nation’s economic diversification and growth.

The event, held on Wednesday, March 19 and Thursday, March 20, at the PTI Conference Centre, was centred around the theme “Local Content-Global Impact: Catalysing Nigerian Expertise and the Oil and Gas Industry for National Growth.” It attracted key figures from Nigeria’s oil and gas sector, including NCDMB Executive Secretary Felix Ogbe, representatives from the Warri Chamber of Commerce, Tantita Security Services, Lee Engineering, PANDEF, and UTM LNG Nigeria.

Speaking on behalf of Delta State Governor Sheriff Oborevwori, the Commissioner for Oil and Gas, Peter Uviejitobor, commended the initiative, describing the conference as timely and necessary given the oil and gas industry’s vital role in Nigeria’s economic development.

“The oil and gas sector is not only the backbone of our economy but also a key driver of our aspirations for industrialisation, technological advancement, and self-sufficiency,” Uviejitobor said.

He further argued that the strategic implementation of local content policies would not only stimulate growth in the sector but also foster national pride, ownership, and stronger relationships between oil companies and host communities.

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Uviejitobor emphasised the importance of using the conference discussions to explore the opportunities and challenges involved in building a thriving local content industry. He urged the industry to adapt to the changing demands of the global market, particularly in light of technological innovations in the sector.

The Delta State Government’s commitment to local content development was also noted, with Uviejitobor pointing to the creation of a Local Content Development Department within the Ministry of Oil and Gas and the establishment of a Local Content Agency designed to foster collaboration with the NCDMB and support the growth of local businesses.

Governor Oborevwori encouraged participants to use the summit as an opportunity to exchange ideas, forge new partnerships, and work together to unlock the full potential of Nigeria’s oil and gas industry.

Felix Omatsola Ogbe, Executive Secretary of the NCDMB, also addressed delegates, stressing that local content extends beyond prioritising indigenous companies in the oil and gas sector. He explained that it is about adding value, building local capacity, and ensuring sustainable economic growth, all while upholding international standards.

Ogbe outlined the goal of the NOGICD Act of 2010, stating that Nigeria’s natural resources should benefit its citizens through skills development, technology transfer, and job creation.

He also clarified that local content should not be viewed as trade restrictions, which protect domestic industries by limiting foreign competition. Instead, Ogbe argued, local content encourages local participation while enabling Nigerian companies to compete on a global scale, without excluding foreign expertise. He cited the NOGICD Act, which has fostered collaboration between foreign investors and Nigerian firms, despite less than 5% of annual spending in the oil and gas sector initially going to local companies.

Ogbe also addressed concerns regarding potential compromises in quality due to local content implementation, assuring stakeholders that quality would remain a priority.

In conclusion, delegates from across the sector emphasised the importance of a more coordinated and strategic approach to local content development.

The unanimous consensus was that Nigeria can only unlock the full potential of its oil and gas resources and achieve sustainable economic growth through ongoing collaboration between industry players, government, and key stakeholders.