NCDMB Reports 61% Nigerian Content in Oil Sector Growth

The Nigerian Content Development and Monitoring Board (NCDMB) reports that Nigerian Content performance in the oil and gas sector has exceeded 61%, a significant increase from less than five percent prior to the implementation of the Nigerian Content policy. The NCDMB aims for a target of 70 percent by 2027.

This progress reflects a transformation where Nigerian companies now engage in various segments of the oil and gas value chain, previously dominated by foreign contractors. Nigerian professionals are increasingly filling technical, operational, and executive roles that were once held by expatriates.

Indigenous service companies have made substantial investments in facilities, equipment, and technology partnerships. However, as the Nigerian Content policy matures, the industry must focus on the lasting industrial capabilities developed from this participation.

The NCDMB highlights that while participation indicates engagement in economic activity, capability encompasses the knowledge, infrastructure, and technical competence retained in Nigeria after projects are completed.