NCDMB Heightens Access To Assets Push, Says $400m Fund Has Empowered 130 Companies

The Nigerian Content Development and Monitoring Board has challenged indigenous oil and gas companies to strengthen their capacity and competitiveness to thrive in international markets.

The Board identified access to assets, financing, technology and markets as critical drivers of sustainable growth for local players.

Speaking at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria, held on October 8 at Eko Hotel and Suites, Lagos, the Board’s General Manager of Corporate Communications, Dr. Obinna Ezeobi, made the call.

He was representing the NCDMB at the conference themed “Access to Assets: Empowering Players and Driving Growth.”

Ezeobi said the theme resonates with the objectives of the Nigerian Oil and Gas Industry Content Development Act, which is designed to create meaningful opportunities for Nigerians to participate and excel.

He explained that the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, is built on five core pillars and four enabling factors, with the ambitious goal of raising local content participation to 70 percent by 2027.

The roadmap, he added, seeks to expand access to critical assets for skilled professionals while strengthening indigenous operating and service companies.

He highlighted flagship interventions including the Nigerian Content Intervention Fund, through which over 130 indigenous companies have accessed more than US$400 million domiciled with the Bank of Industry and NEXIM Bank.

Other programmes include Project 100, designed to support high-potential indigenous firms through capacity development, market access and financial linkages, as well as the Nigerian Content Equipment Certification, the Nigerian Oil and Gas Parks Scheme and vendor development initiatives.

Ezeobi said the Board is also facilitating partnerships between Nigerian and foreign companies and promoting regional collaboration, expressing satisfaction that Nigerian content has grown from 5 percent in 2010 to 61 percent after 16 years of the Act.

However, he stressed that the next phase must focus on equipping indigenous firms with skills, technology and business systems to compete globally.

In his welcome address, NAEC Chairman Ugo Amadi called for expanded opportunities for indigenous companies to acquire assets, identifying high entry costs, funding constraints and lengthy approval processes as major barriers.

PETAN Chairman Engr. Wole Ogunsanya underscored the need for consolidation and stronger collaboration among indigenous oilfield service companies to pool capabilities and execute larger projects.

Conference Chairman and Group Managing Director of Sahara Power Enterprise Group, Mr. Kola Adesina, represented by Bethel Obioma, said “access is actually much greater and more important than assets,” noting that transformational journeys begin with access to ideas, mentors and capital.

Minister of State for Petroleum Resources (Gas), Rt. Hon. Obongemem Ekperikpe Ekpo, represented by Senior Technical Adviser Engr. Abel Nsa, stressed that Nigeria must move beyond mere ownership of gas to development and conversion into sustainable value through the Decade of Gas initiative for industrialisation, power, transportation and manufacturing.

NOP NIGERIA