Nigeria’s push for deeper local participation in the oil and gas sector reached a new milestone as the Nigerian Content Development and Monitoring Board (NCDMB) announced that Nigerian Content in monitored projects has reached 61% by the third quarter of 2025.

Speaking at the 14th Practical Nigerian Content (PNC) Forum in Bayelsa, NCDMB Executive Secretary Engr. Felix Omatsola Ogbe said the achievement reflects progress in manufacturing, fabrication, engineering, local asset ownership, and indigenous human capacity.

To further accelerate indigenous participation, the Board unveiled a $100 million Equity Investment Scheme, designed to provide equity financing to high-growth Nigerian energy service companies and strengthen the Nigerian Content Development Fund (NCDF).

“The Equity Fund will act as a catalyst for high-impact growth, deploying equity and quasi-equity capital to promising indigenous companies, with a single obligor limit of $5 million,” explained Bank of Industry Managing Director Olasupo Olusi, who signed a MoU with NCDMB to guide the fund’s implementation.

Engr. Ogbe also highlighted the Project 100 Companies initiative, targeting high-potential indigenous firms, and announced upcoming programs including a Technology Challenge (Q1 2026), a National R&D Fair (Q2 2026), and the introduction of a NCDF Compliance Certificate from January 1, 2026 to ensure adherence to mandatory 1% NCDF remittance.

Operational achievements reported by NCDMB include over 94 community contractor disbursements in 2025, the transformation of the Nigerian Content Academy into a full division, and the launch of an Oil and Gas Field Readiness Training Programme to equip Nigerians with the top in-demand technical skills.

The Oloibiri Museum and Research Centre (OMRC) is also under construction, with delivery expected within 30 months, jointly funded by PTDF, NCDMB, Renaissance Africa Energy, and Bayelsa State Government.

Government officials at the forum praised NCDMB’s initiatives. Senator Joel Thomas raised concerns over NCDF remittance compliance, while Boma Goodhead commended the Board for guiding local content aspirations. Ministers of State for Petroleum Resources, Ekperikpe Ekpo (Gas) and Heineken Lokpobiri (Oil), lauded investment growth, noting an increase in active oil rigs from 14 to over 60. Senator John Owan Enoh highlighted Nigeria’s transition toward domestic energy production and value creation.

Presidential Adviser on Energy, Olu Verheijen, lauded the growing success of indigenous operators, citing examples like SHI-MCI fabrication yards, Waltersmith modular refinery, and NLNG Train 7 project, reflecting the maturity of local capacity and the impact of supportive policies.