Yemisi Izuora
Operating oil companies in Nigeria would be presenting key projects opportunities as the Nigerian Content Development and Monitoring Board (NCDMB) creates space for local companies to expand their business operations in the industry.
Key International Oil Companies, are expected to announce project details at the fifth edition of the 2025 Nigerian Oil and Gas Opportunity Fair, scheduled to hold from May 21 to 22 in Yenagoa, in Bayelsa State.
The NOGOF provides opportunities for companies in the upstream, midstream and downstream sectors to showcase their upcoming projects.
The aim is to achieve national aspirations of increasing gas and crude oil production, boosting revenue, and meeting domestic crude oil and gas supply obligations.
This enables service companies, manufacturers, oil and gas trainers, and job seekers to invest in facilities and capabilities that will domicile most of the activities in the country.
Speaking a head of the event, the Executive Secretary of the Board, Mr. Felix Ogbe, says that local content in the Nigerian petroleum industry has now reached 56 per cent, with ongoing reviews likely to further enhance this figure.
Mr. Ogbe, stated that the board is focused on attracting new local investments into Nigeria’s oil and gas sector with expectations for more opportunities arising from the three Presidential directives on the industry.
According to him, these directives have played a pivotal role in unlocking fresh investments and driving growth in the sector.
“We are glad to mention that with our efforts, the level of local content in the oil and gas sector in Nigeria has reached 56 per cent as of the last count we had. The review is ongoing right now to enable us to determine where we are in terms of the percentage of local content we have achieved up to date. So the last count is 56 per cent of local value created,” he said.
Ogbe explained that at the 2023 NOGOF, over 100 investment opportunities were presented by companies and that some of the projects showcased at the event were the Ubeta and Bonga North, which have been executed.