The Nigerian Content Development and Monitoring Board (NCDMB), has reassured that the Board would not be deterred from its commitment toward advancing local content development in the country, given the vast array of skilled capacity.
The Executive Secretary (NCDMB), Engr. Simbi Wabote gave the assurances on Wednesday in Abuja ahead of the 2023 Nigerian Oil and Gas Opportunity Fair (NOGOF) scheduled to hold in Bayelsa State.
He said the Board would continue to engage local companies in the execution of major projects in the country would continue to grow.
Wabote who revealed that 50 per cent of activities in the ongoing $5 billion Nigeria LNG train-7 project were provided by local companies because they had prior information and details about the project courtesy of the NCDMB.
He added that the Board is working to grow the number to 70 per cent when the Nigeria Liquified Natural Gas NLNG limited intends to build another train.
According to him, the NOGOF with the theme: ‘The oil and gas industry: Catalyst and fuel for industrialization’, would expose Nigerian companies to upcoming projects and also enable them to position themselves for maximum participation.
He said: “One of the key objectives of NOGOF 2023 is to bring together key stakeholders in the oil and gas industry to discuss ways to deepen local content by leveraging identified opportunities and identify solid ways to move the industry forward.
“NCDMB remains committed to providing information about the various opportunities available to stakeholders in the oil and gas industry, particularly investors. As such, we have prepared a Compendium of Nigerian Content Opportunities in the Oil and Gas Industry in 2023, which will be made available to all delegates at the event.
“Our goal is to provide a valuable resource that will guide the investment strategies of interested parties in the Nigerian oil and gas industry. We are confident that the Compendium will serve as a useful tool in identifying and pursuing investment opportunities that align with the local content requirements of the industry.
“If you look and NLNG train-1 to 6, during construction the level of Nigerian participation was near zero because LNG technology was alien to us and everything practically was done outside the country. But with the advent of NOGOF, today, 50 percent of the activities in NLNG train-7 is being done by Nigerians.
“This is because we provided the prior information to enable them to prepare themselves to participate in that project and I sincerely believe that if we want to build another train of an NLNG, I can assure you that almost 70 percent of it will be done by Nigerians and in-country.”
Speaking further on the NOGOF he said: “This year, by incorporating linkage industries and expanding our reach beyond Nigeria to the entire African continent. Our goal is to showcase the various opportunities available in the oil and gas industry and foster partnerships that will drive growth and development in the sector.
“We recognize that the oil and gas industry has the potential to catalyze industrialization and promote economic growth, not just in Nigeria, but across the continent. As such, we are excited to welcome delegates, partners, and governmental bodies from different parts of Africa to engage in quality discussions and explore new business opportunities. In doing so, we hope to stimulate investment, foster technology transfer, and enhance local content development across the African oil and gas value chain.
“One of the key objectives of NOGOF 2023 is to bring together key stakeholders in the oil and gas industry to discuss ways to deepen local content by leveraging identified opportunities and identify solid ways to move the industry forward. The event will provide an opportunity for investors, operators, government officials, and major players across various sectors to engage in quality discussions.”