Industry leaders at the NOG Energy Week in Abuja have thrown their weight behind the Nigerian Content Development and Monitoring Board (NCDMB), defending Nigeria’s local content policy against claims that it inflates costs in the oil and gas sector.
During a high-profile panel session titled “Technology as a Business Strategy”, experts praised the Board’s pivotal role in fostering indigenous capacity, innovation, and technological advancement, warning that undermining local content could derail Nigeria’s industrial progress.
This was contained in a statement signed by Dr Obinna Ezeobi, GM Corporate Communications, and made available to journalists.
The statement reads partly: “Claims that local content drives up costs are misguided,” Akobo said. “How can you prioritize cost over GDP growth? Where will our youth find jobs? Undermining local content for short-term gains is a mistake. Nigeria must stay the course.
“Technology drives accountability and curbs cost inflation,” he said. “But our data remains siloed. Consolidating it is critical for industry efficiency.
“Data is the backbone of growth,” Onafowokan said. “Effective data collection and accessibility are vital. Thanks to NCDMB, we’ve achieved 52% local content—a remarkable milestone.
“Africa is a cornerstone of Nigeria’s foreign policy,” Nwapa said, pointing to initiatives like the West African and African Gas Pipelines, the African Continental Free Trade Area (AfCFTA), and President Bola Ahmed Tinubu’s ‘Nigeria First, Africa Next’ strategy as evidence of Nigeria’s continental commitment.”
Dr Daere Akobo, Group CEO of Pana Holdings, stressed that the benefits of local content far outweigh any perceived increase in costs, citing the company’s work on Africa’s first digital refinery as evidence of how technology and local capacity can deliver efficiency and accountability.
Mr George Onafowokan, Managing Director of Coleman Cables and Wires, commended NCDMB’s data-driven approach, noting that effective data collection has been crucial in achieving 52% local content in the sector.
Representatives from Ghana and other African nations praised Nigeria’s local content framework as a continental model. Ghana’s Deputy CEO of the Petroleum Commission, Nasir Alfa Mohamed, called for cross-border regulatory alignment, mutual recognition of standards, and regional platforms to ensure fair competition.
Dr Ernest Nwapa, NCDMB’s pioneer Executive Secretary, highlighted Nigeria’s oil and gas resurgence, driven by deregulation, production growth, and improved governance, while urging long-term sustainability to consolidate gains. He noted that over 16 African nations and even the United States have now adopted local content laws inspired by Nigeria’s framework.
Engr Farouk Ahmed, NMDPRA Authority CEO, represented by Prof Zainab Gobir, emphasised the need for joint infrastructure development, uniform tariffs, and coordinated regulations to support economic integration. He cited the Petroleum Industry Act’s Gas Infrastructure Fund as a model for de-risking investment and promoting local content.
Engr Gbenga Komolafe, NUPRC CEO, reaffirmed Nigeria’s leadership role in regional energy cooperation, highlighting the country’s 30% share of Africa’s oil reserves and 33% of its gas. He praised the government’s host community development model and the recent Executive Order strengthening human capacity development in the sector.
Komolafe further noted that international oil companies increasingly recognise Nigeria’s local expertise, making the country a key investment destination, while the local content model is now being exported to other African nations.