Board credits Tinubu’s reforms, local content initiatives for major project approvals
The Nigerian Content Development and Monitoring Board (NCDMB) has disclosed that Nigeria attracted more than $10 billion in international oil and gas investments and projects within the past three years, attributing the development to policy reforms and strategic incentives introduced by the Federal Government.
The General Manager, Corporate Communications, NCDMB, Dr. Obinna Ezeobi, disclosed this on Wednesday at a Strategic Leadership Roundtable Briefing held during the ADIPEC Energy Conference in Abu Dhabi, United Arab Emirates. He represented the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe.
The roundtable, themed “Delivering the Energy the World Needs: Recalibrating Upstream Projects,” brought together 21 global industry leaders to discuss investment opportunities, project delivery, financing and sustainable growth in the energy industry.
Ezeobi attributed the investment inflows to targeted Executive Orders and strategic incentives introduced by the administration of President Bola Ahmed Tinubu, as well as reforms implemented by key industry agencies, including the NCDMB, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian National Petroleum Company Limited (NNPC Ltd).
He said the reforms had boosted investor confidence, enhanced the competitiveness of Nigeria’s energy sector and facilitated major final investment decisions (FIDs).
According to him, the NCDMB’s sustained engagement and partnerships with industry stakeholders, particularly operating companies, have also contributed to securing recent FIDs and advancing major investments.
Highlighting the Board’s initiatives, he cited the revised Nigerian Content Contracting Guidelines, which have streamlined project approval processes, and the Nigerian Content Equipment Certificate (NCEC) Guidelines.
He explained that the NCEC Guidelines were designed to eliminate non-performing intermediary companies from industry operations while enabling Original Equipment Manufacturers (OEMs) to provide services directly for deepwater projects.
Ezeobi invited international operating and service companies to invest in Nigeria, assuring them of the Board’s commitment to creating an enabling environment for sustainable investments.
“ 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, value addition and companies can compete beyond our borders,” he said.
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.
Participants at the forum recommended measures to diversify upstream financing, accelerate field assessments, strengthen project delivery mechanisms, increase hydrocarbon recovery and build a more resilient energy future.
Meanwhile, the NCDMB established an exhibition booth at the 2026 ADIPEC Conference to explain Nigerian content processes to global stakeholders, engage potential investors and promote investment opportunities in Nigeria’s oil and gas industry.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, accompanied by the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, was among the Nigerian stakeholders who visited the Board’s exhibition booth.
Lokpobiri challenged the Board to collaborate with relevant agencies in the Nigerian oil and gas industry to establish a strong presence at major international oil and gas conferences and project Nigeria as an attractive investment destination.
