- Nigerian content levels rise to 61%, moving closer to the national target of 70%.
- A $100 million equity fund will support high-growth indigenous energy service firms.
The growth of Nigerian local content continues to gain momentum, as confirmed by the Nigerian Content Development and Monitoring Board. The growth of local content in Nigeria is now drawing national attention, as the country aims to reach 70% local content by 2027. As a result, the latest figures reflect significant movement towards this strategic goal.
The Executive Secretary of the Board, Engr. Felix Ogbe announced that Nigeria’s local content growth gains momentum, increasing from 56% to 61%. He delivered the update during his keynote address at the 2025 Practical Nigerian Content Forum in Yenagoa. Consequently, the improvement highlights the impact of the Board’s 10-year roadmap.
Ogbe explained that the roadmap seeks to deepen local participation and retain more value within Nigeria. In addition, he unveiled a $100 million Nigerian Content Equity Investment Fund. The Bank of Industry will manage the fund and provide guidance and support to high-growth indigenous energy service firms.
He stated that the Board had recorded progress across several strategic areas. For instance, the Nigerian Content Academy has been established to build essential skills. Construction has also begun at the Oloibiri Museum and Research Centre. Furthermore, the Board launched the Oil and Gas Field Readiness Training Programme to equip Nigerians with the top ten in-demand skills. Over 11,000 applications have already been received.
Ogbe confirmed that more programmes will be introduced next year. These efforts aim to strengthen local capacity and raise industry productivity. Therefore, the Board expects sustained improvements across the sector.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, informed participants that the Federal Government has made significant efforts to restore investor confidence. He added that some international oil companies that left Nigeria are now considering a return. However, he emphasised that the Nigerian Content Act must be applied responsibly to prevent disruptions to operations.
The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpoh, reaffirmed the government’s commitment to ensuring the sector benefits Nigerians. Bayelsa State Governor, Senator Douye Diri, represented by Secretary to the State Government Nimibofa Ayawei, stated that Bayelsa continues to bear the environmental and economic pressures of hosting oil and gas activities.
Other speakers included Senator Joel Onowakpor-Thomas and Honourable Boma Goodhead, both of whom chair local content committees in the Senate and House of Representatives, respectively.
The 2025 forum, organised by DMG Events in partnership with the NCDMB, carried the theme “Securing Investments, Strengthening Local Content and Scaling Energy Production.”