NCDMB Reaffirms Commitment to Achieving 70% Local Content by 2027.
The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its commitment of achieving 70% local content in the oil and gas sector by 2027.
Director, Corporate Services of the agency, Dr Abdulmalik Halilu reassured industry stakeholders and Nigerians on Monday at the just concluded Capacity building Workshop for media stakeholders in Abuja.
According to him, the NCDMB has achieved 61 percent as at 2025. His paper presentation was titled: NCDMB Overview: Mandates and success stories.
He noted that the ambitious target is feasible through existing strategic roadmaps and increased local investment, building momentum towards the 70% goal.
He highlighted the Board’s major achievements under the 10-Year Strategic Roadmap (2017–2027) — including the creation of the Nigerian Content Intervention Fund (NCIF), stronger industry partnerships, and a significant rise in local content levels from 5 percent in 2010 to 61 percent presently.
“Our focus remains on deepening local content, increasing in-country value retention, and enhancing investor confidence in the Nigerian oil and gas sector,” he said.
Speaking on the strides of the agency, Dr Halilu harped on plans to establish a 500-meter integration quay in Lagos for future projects, stressing that the board also enabled the domiciliation of 50% of the $12bn NLNG Train 7 project, saving the economy an estimated $2bn in EPC costs.
On Operational Efficiency and Recognition, he said NCDMB has been consistently ranked as the best-performing Federal Government agency in the transparency and efficiency rankings by the Presidential Enabling Business Environment Council (PEBEC), a testament to its streamlined and automated processes.
Meanwhile, a $50 million Research and Develop Fund was launched to drive indigenous technology and innovation, with world-class Centres of Excellence being established in universities across the country, adding that the board has successfully implemented Service Level Agreements (SLAs) with operators like NLNG, ensuring timely approvals and project execution, and has grown indigenous ownership of marine vessels in the industry to 40%.
He also said the NCDMB completed its 17-storey headquarters, the Nigerian Content Tower, in Yenagoa, Bayelsa State, which is powered by a 10MW independent power plant apart from the Nigerian Content Intervention Fund (NCIF) which was expanded from $200 million to $350 million (and a new $100 million equity fund established) to provide affordable, single-digit interest credit to Nigerian service companies and community contractors, a development that has addresses a key financial challenge in the sector.
Earlier in his welcome address, the General Manager, Corporate Communication of NCDMB, Dr Obinna Ezeobi noted that media practitioners are critical stakeholders in the implementation of the NOGICD Act.
According to him, “We want the media to better understand how the oil and gas industry works; we want to deepen our relationship, and to build the capacity of media stakeholders in reportage.”
He said NCDMB had established sustainable relationships with media stakeholders in different parts of the Country, and organises annual engagements in Port Harcourt, Lagos and Abuja.
