Oil industry operators have urged the Nigerian Content Development and Monitoring Board (NCDMB) to rigorously enforce the Nigerian Oil and Gas Industry Content Development Act of 2010, aiming to significantly enhance the sector’s performance.
During the “Exportation of Local Capacity: Maximising Regional Opportunities” session at the ongoing Nigerian Oil and Gas conference in Abuja on Monday, panelists emphasized the importance of enforcing local content laws. They noted that while Nigeria has made substantial progress in the oil industry, it is crucial to retain and fully utilize this capacity domestically before considering exportation.
Ernest Azudialu-Obiejesi, Chairman of Nestoil Limited and a panelist at the session, highlighted that many African countries now look up to Nigeria due to its achievements in local content. He stressed the need to sustain these capacities, urging the government and the NCDMB to facilitate this process.
Azudialu-Obiejesi stated, “Today, people are looking up to Nigeria to learn from our achievements in the oil sector. This recognition reflects our progress in local content. However, it is essential to have enforceable local content laws to retain these capacities. Creating laws is one thing, but ensuring their enforcement is another. We must make sure it works.”
He commended the NCDMB’s efforts but called for continuous enforcement of these laws to ensure that the developed capacities remain within Nigeria, benefiting the sector positively.
Henry Okolie-Aboh, Managing Director of Westfield Energy Resources Limited, also emphasized Nigeria’s growth in the oil and gas sector’s capacity. He urged the NCDMB to support sector operators in expanding this capacity through local content laws, highlighting the need for skilled manpower to thrive.
Earlier, Felix Ogbe, Executive Secretary of the NCDMB, explained that the Nigerian Content Seminar, a flagship program of the Nigerian Oil and Gas Energy Week Conference, was designed to engage stakeholders and demonstrate the agency’s enforcement of local content laws.
Ogbe stated, “The Nigerian Content Seminar allows the board to engage with stakeholders and share our efforts towards developing local capacities and enforcing the Nigerian Oil and Gas Industry Content Development Act of 2010. This seminar also provides industry practitioners with clarity, tips, and guidance on the Act, ministerial regulations, and NCDMB guidelines.”
He added that the Federal Government’s support for the local content agenda is evident, recalling President Bola Tinubu’s recent directive on local content compliance requirements. This directive aims to deepen local content in the oil and gas industry, enhance competitiveness, mitigate risks, improve approval timelines, and create a favorable business environment in Nigeria’s oil and gas sector.
