NCDMB Reports Nigerian Oil Content Growth to 61% in 2026

The Nigerian Content Development and Monitoring Board (NCDMB) reported a significant increase in Nigerian content within the oil and gas industry, rising from 5% in 2010 to 61% in 2026. This announcement was made by the Executive Secretary, Felix Ogbe, during the 2026 Association of Energy Correspondents of Nigeria (NAEC) Conference in Lagos, where he was represented by Dr Obinna Ezeobi, the board’s General Manager of Corporate Communications.

Ogbe emphasized that the next phase of the Nigerian content initiative will focus on enhancing the competitiveness of indigenous companies for global operations. He noted that the increase reflects progress in developing local capacity across the oil and gas value chain.

The NCDMB is working on strengthening these companies through financing, equipment development, and strategic partnerships, while also promoting local manufacturing to reduce reliance on imports. Ugo Amadi, Chairman of NAEC, highlighted challenges faced by indigenous operators, including high entry costs and lengthy approval processes, which need to be addressed to boost local participation.