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Tag: NCDMB

  • NCDMB woos investors as local content hits 56% in petroleum industry

    NCDMB woos investors as local content hits 56% in petroleum industry

    The Nigerian Content Development and Monitoring Board, NCDMB, has said that it is targeting fresh local investments into the Nigerian oil and gas sector during the 2025 Nigerian Oil and Gas Opportunity Fair, NOGOF, in Yenagoa, Bayelsa State.

    Executive Secretary, NCDMB, Engr. Felix Ogbe told journalists in Abuja that local content in the petroleum industry currently stands at 56 percent.

    Ogbe explained that at the 2023 NOGOF, over 100 investment opportunities were presented by companies, adding that some of the projects showcased at the event were the Ubeta and Bonga North where have been executed.

    He explained that “NOGOF provides opportunities for companies in the upstream, midstream and downstream sectors to showcase their upcoming projects. The aim is to achieve our national aspirations of increasing gas and crude oil production, boost revenue, and meet 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”.

    NOGOF 2025 has the theme: “Driving Investment and Production Growth: Shaping a sustainable Oil and Gas Industry through Indigenous Capacity Development.”

    Speaking at the event, the Chairman, Petroleum Technology Association of Nigeria, PETAN, Mr. Wole Ogunsanya praised the role NCDMB has played in growing the oil and gas value chain in the country.

    Ogunsanya noted that local content in the sector is set to grow even more with the recent acquisition of oil and gas assets by Nigerian companies from International Oil Companies, IOCs.

    “What it means is that in the ExxonMobil deal, the 40% of the oil that used to go to ExxonMobil and they take it outside Nigeria, will now reside in Nigeria. For the SPDC deal, the 45% of it, the profit of it, will now be with Renaissance, which is an indigenous company. That is what local content is all about”, he stressed.

  • NCDMB refutes allegations of financial infractions

    NCDMB refutes allegations of financial infractions

    The Nigerian Content Development and Monitoring Board, NCDMB, has refuted recent online reports alleging financial infractions within the organization.

    The organisationdismissed the claims as entirely false, malicious, and misleading, stating that they are part of a deliberate attempt to smear its reputation and distract the Board from its mandate.

    In a statement on Tuesday, the organisation reaffirmed its commitment to integrity, professionalism, and transparency in carrying out its duties.

    The statement reads: “The Executive Secretary of the Nigerian Content Development and Monitoring Board,  Engr. Felix Ogbe remains focused and committed to the highest level of integrity, patriotism and professionalism in the discharge of his duties and honest leadership of the Board in line with its core mandate and objective.

    “He is working hard to support and accelerate President Bola Tinubu’s vision of strengthening local content development, integrating host communities into the value chain, ensuring local content compliance and deepening indigenous participation in the oil and gas sector to realize the Renewed Hope Agenda of Mr. President for the oil and gas industry, the oil producing region and the wider Nigerian economy.

    “The NCDMB under the leadership of Engr. Ogbe is breaking new grounds and reaching greater milestones in playing its role to position the oil and gas sector to deliver maximally to the people.

    “The Executive Secretary hopes to continue to deliver transformative leadership that adheres to due process, is accountable and patriotic.

    “For the avoidance of doubts, the Executive Secretary refutes and rejects the false, misleading and malicious allegations that appears carefully crafted and designed to smear his reputation and distract the Organisation.

    “Whereas the NCDMB has already issued a formal statement as an organisation to refute the baseless allegations, the continuous and repeated use of the name of the Executive Secretary in the media website’s subsequent false allegations and the many attempts to link him to alleged and factually non-existent issues of infractions clearly suggest that there is a hatched plot to malign, libel and smear the person and reputation of Engr. Felix Ogbe in order to pursue a preconceived sinister agenda that is only known to the persons or group behind the failed plot.

    “The Executive Secretary is busy working hard to discharge his duties and responsibilities transparently, honestly and passionately to justify the confidence of Mr. President, Bola Tinubu and strive to deliver the oil and gas component of the President’s Renewed Hope Agenda.

    “The public is encouraged to be wary of mischief makers pursuing evil motives.”