The Nigerian Content Development and Monitoring Board (NCDMB) has underscored Nigeria’s growing attractiveness as a destination for oil and gas investments, highlighting recent policy reforms and Nigerian content initiatives that have helped secure major industry projects and investment commitments.
The General Manager, Corporate Communications, Dr. Obinna Ezeobi, delivered this message on Wednesday at a Strategic Leadership Roundtable Briefing at the ADIPEC 2026 Energy Conference in Abu Dhabi, United Arab Emirates, where he represented the Executive Secretary, NCDMB, Engr. Felix Omatsola Ogbe.
The high-level roundtable, themed “Delivering the Energy the World Needs: Recalibrating Upstream Projects,” brought together 21 global industry leaders to discuss critical issues shaping the future of the energy industry, with a focus on investments, project delivery, financing, and sustainable growth.
During his presentation, Dr. Ezeobi outlined NCDMB’s core mandate of developing Nigerian human and material capacities, ensuring compliance with the provisions of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, as well as enabling investments across the Nigerian oil and gas sector.
He noted that Nigeria’s oil and gas industry has attracted international oil and gas investments and projects valued at over $10 billion within the past three years, attributing this achievement to targeted Executive Orders and strategic incentives introduced by the administration of President Bola Ahmed Tinubu.
The final investment decisions (FIDs) he said, were also enabled by policy reforms implemented by key agencies like the NCDMB, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd). These reforms have significantly enhanced investor confidence and improved the competitiveness of the Nigerian energy sector, he added.
Dr. Ezeobi noted that NCDMB’s sustained engagement and partnership with key industry stakeholders, particularly operating companies, were equally instrumental in achieving recent Final Investment Decisions (FIDs) and advancing major investments across the sector.
Among the Board’s key initiatives that revitalised the sector, he cited the revised Nigerian Content Contracting Guidelines, which have streamlined project approval processes, as well as the Nigerian Content Equipment Certificate (NCEC) Guidelines. The latter is designed to eliminate the participation of non-performing intermediary companies in industry operations while enabling Original Equipment Manufacturers (OEMs) to provide services directly for deepwater projects.
He invited international operating and service companies to the Nigerian oil and gas, assuring that “NCDMB will continue to support an environment in which international investments thrive alongside Nigerian enterprise, where technology transfer leads to stronger domestic capability and major projects create opportunities for local manufacturing, and value addition and companies can compete beyond our borders.”
The Nigerian delegation to the roundtable included the Managing Director of NNPC E&P Limited, Mr. Nicolas Foucart, and the Managing Director of NNPC 18 Operating Limited, Ms. Ibiyemi Asaolu.
Discussions at the forum also examined investment opportunities, strategies for navigating complex operating environments, and approaches to supporting long-term industry growth and economic development. Participants recommended practical measures to diversify upstream financing, accelerate field assessments, strengthen project delivery mechanisms, increase hydrocarbon recovery, and build a more resilient energy future.
The ADIPEC Strategic Leadership Roundtable provided an important platform for global energy leaders to exchange insights and develop collaborative solutions aimed at meeting rising energy demand while ensuring sustainable industry development.
