The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment to corporate governance, accountability, and operational excellence as it unveils a renewed strategy to strengthen local content performance in Nigeria’s oil and gas industry.

The announcement followed a two-day strategic retreat in Akwa Ibom State, attended by members of the Board’s Governing Council, top management, and government officials, including Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), and Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas). The retreat aimed to deepen understanding of statutory roles, align strategies, and enhance collaboration between the Council and management.

Senator Lokpobiri noted, “The NCDMB has become a major enabler for business growth in Nigeria’s oil and gas industry. Our collective responsibility is to ensure it continues to function efficiently, transparently, and in full alignment with its statutory mandate.” He emphasized teamwork, accountability, and adherence to authority limits as critical for institutional stability.

Representing the Executive Secretary, Engr. Abayomi Bamidele, highlighted the Board’s achievements under the 10-Year Strategic Roadmap (2017–2027), including the creation of the Nigerian Content Intervention Fund (NCIF) and an increase in local content from 5% in 2010 to 56% today. He affirmed the Board’s focus on deepening local content, enhancing in-country value retention, and boosting investor confidence.

The retreat featured presentations from industry experts on corporate governance, fiscal policy, tax reforms, and strategies for optimizing performance and local content. During a courtesy visit to Akwa Ibom Governor Umo Eno, the Council commended the state’s industrial and energy initiatives, while exploring collaboration in compressed natural gas (CNG) and oxygen production.

The retreat concluded with a renewed commitment by the NCDMB Governing Council and management to sustain reforms that enhance operational transparency, institutional efficiency, and policy coherence in advancing Nigeria’s local content agenda.