The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to host the 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF), aimed at strengthening local participation and capacity in the oil and gas sector.
NOGOF Fair to Drive Local Investment and Collaboration
Speaking at a press briefing in Abuja on Wednesday, Felix Ogbe, Executive Secretary of NCDMB, emphasized that the fair aligns with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, which mandates the board to maximize indigenous participation in petroleum activities.
“One of the goals of NOGOF is to showcase the various opportunities available in the oil and gas industry and foster partnerships that will drive growth and development in the sector.”
He further explained that the fair provides a platform for companies in the upstream, midstream, and downstream sectors to present their projects, attracting investments to increase gas and crude oil production, boost revenue, and meet domestic supply obligations.
Local Content in the Petroleum Industry Hits 56%
Ogbe revealed that local content in the petroleum sector has risen to 56%, reflecting the success of policies aimed at increasing Nigerian participation in the industry. He recalled that at the 2023 NOGOF, over 100 investment opportunities were presented, including major projects such as Ubeta and Bonga North, which are now being executed.
Industry Leaders Applaud NCDMB’s Efforts
Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria (PETAN), commended the board for fostering local participation in the oil and gas sector. He noted that recent acquisitions of oil and gas assets by Nigerian firms from International Oil Companies (IOCs) would further enhance indigenous control.
“What it means is that in the ExxonMobil deal, 40% of the oil that used to be taken outside Nigeria will now remain in the country. For the SPDC deal, 45% of the profits will now stay with Renaissance, an indigenous company. That is what local content is all about.”
Looking Ahead: Strengthening Indigenous Participation
As Nigeria continues to prioritize local content development, the 2025 NOGOF fair is expected to serve as a critical platform for investment, policy discussions, and industry collaborations that will shape the future of the country’s petroleum sector. The NCDMB remains committed to its mandate of ensuring greater local participation, reducing reliance on foreign firms, and maximizing the benefits of Nigeria’s hydrocarbon resources for national economic growth.
