Nigeria Positions Local Content As Catalyst For Africa’s Industrial Growth

Nigeria Positions Local Content as Catalyst for Africa’s Industrial Growth – Lokpobiri

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Nigeria Positions Local Content as Catalyst for Africa’s Industrial Growth – Lokpobiri

By Ikojie Emmanuel

The Federal Government of Nigeria has reiterated its commitment to leading Africa’s industrial transformation by leveraging local content development in the oil and gas sector as a foundation for economic growth and innovation.

Speaking at the 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF) in Yenagoa, Bayelsa State, the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, highlighted the strategic role of the Nigerian Content Development and Monitoring Board (NCDMB) in achieving this goal.

“When we talk about African local content, we must be referring to Nigerian local content. We must lead by design,” Lokpobiri declared.

Organized by the NCDMB in collaboration with Jake Riley Limited, the fair brought together industry leaders, investors, and stakeholders to explore new investment prospects and production strategies in Nigeria’s energy value chain.

Lokpobiri noted that since the enactment of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act in 2010, the country has moved beyond regulatory enforcement to delivering tangible economic impact. He emphasized that the NCDMB now plays a critical role in industrial and enterprise development.

Nigeria Positions Local Content as Catalyst for Africa’s Industrial Growth – Lokpobiri

One of the major milestones highlighted was the increase in Nigerian content from 5% in 2010 to over 56% as of December 2024. The Board is now targeting 70% local content by the conclusion of its current 10-year strategic roadmap.

The minister praised the success of the Nigerian Content Intervention Fund, managed by the Bank of Industry (BoI), for providing accessible credit facilities in both naira and dollars. These funds have enabled indigenous oil and gas companies to expand, innovate, and deliver competitive services across various segments of the industry.

He also spotlighted Project 100, an NCDMB initiative nurturing 100 high-performing Nigerian companies to become globally competitive. According to Lokpobiri, the results are already visible in the advanced technical capacity now demonstrated by local firms, including the construction of Floating Production Storage and Offloading (FPSO) units and other major oil infrastructure.

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Describing NOGOF as a strategic national platform, Lokpobiri emphasized its role in showcasing opportunities across upstream, midstream, and downstream segments, including refining, logistics, construction, and marginal field development.

He concluded by reaffirming President Bola Tinubu’s vision for the oil and gas sector as a pillar of national security, economic advancement, and wealth creation. The minister urged stakeholders to stay unified, invest in Nigerian capacity, and remain committed to a sustainable future.