The Nigerian Content Development and Monitoring Board (NCDMB) has announced the approval of a ₦15 billion funding initiative under its Contractors Financing Scheme. This move is aimed at addressing the persistent challenge of limited access to funding for local contractors engaged in projects with oil and gas companies. Additionally, the board has raised the single obligor limit under the scheme from ₦20 million to ₦100 million, significantly boosting support for contractors.
Speaking at the 2024 Practical Nigerian Content (PNC) Forum in Bayelsa, themed “Defining the Next Frontier for Nigerian Content Implementation,” the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, outlined the board’s progress and future plans. Ogbe highlighted the impressive growth in Nigerian Content Development indices, which have risen from 26% in 2016 to 56% in 2024. He credited this progress to a strategic 10-Year Roadmap initiated in 2017, focusing on capacity building, collaboration, and innovation in the oil and gas sector.
Ogbe also provided an overview of key achievements, including the commissioning of critical infrastructure such as Amal Technologies in Abuja, the Kwale Gas Gathering Facility in Delta State, and the unveiling of Bell Oil and Gas’ 50,000 metric-ton Oil Country Tubular Goods (OCTG) facility at Lekki Free Trade Zone. Other milestones included the establishment of the Nigeria Oil and Gas Park Scheme (NOGaPS) in Bayelsa, Cross River, and Akwa Ibom States, as well as the commissioning of LPG facilities in Kaduna and Katsina in partnership with private sector entities. These efforts are part of a broader goal to streamline processes, reduce project timelines, and bolster compliance through initiatives like the new PCAD contracting guidelines, which have shortened the contracting cycle from nine months to six.
Human Capital Development and Community Support
In his address, Ogbe emphasized the importance of human capital development in driving local content initiatives. Notable achievements include cadetship training for 63 individuals on international vessels in collaboration with Shell and PETAN, the training of 331 Nigerians under the NLNG Train 7 Project, and the establishment of an Engineering Design Studio at the Federal University of Owerri (FUTO). The board also completed an E-Library at Niger Delta University in Bayelsa in partnership with SPDC and its JV partners.
Ogbe introduced the “Back to the Creek” program, a youth-focused initiative targeting host communities in oil-producing regions. Designed to equip young people with skills aligned with industry demands, this initiative is part of a larger vision to empower local communities and enhance education infrastructure. The program will unfold in three phases: improving primary education facilities, advancing secondary education with scholarships, and creating employment opportunities for top-performing students. Ogbe noted that these efforts align with President Bola Tinubu’s directive to foster an environment conducive to business growth and sustainable development in the oil and gas sector.
The Executive Secretary reiterated NCDMB’s commitment to driving impactful initiatives that not only strengthen local content but also enhance economic opportunities for Nigerians across various sectors.