Nigeria has attracted more than $10 billion in oil and gas investments and projects within the past three years, with President Bola Tinubu’s policy reforms and incentives helping to strengthen investor confidence and improve the competitiveness of the country’s energy sector, Nigerian Content Development and Monitoring Board (NCDMB) has said.
The Board attributed the investment commitments to targeted Executive Orders and strategic incentives introduced by the administration of President Tinubu, alongside reforms implemented by key industry regulators and institutions.
General Manager, Corporate Communications, Nigerian Content Development and Monitoring Board (NCDMB), Obinna Ezeobi, disclosed this at a Strategic Leadership Roundtable Briefing during the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in the United Arab Emirates.
Ezeobi, who represented the Executive Secretary of NCDMB, Felix Omatsola Ogbe, said the reforms had helped facilitate major Final Investment Decisions (FIDs) and strengthened Nigeria’s position as an investment destination for international oil and gas companies.
He identified the contributions of the NCDMB, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and Nigerian National Petroleum Company Limited (NNPC Ltd.) as particularly important in creating a more favourable environment for upstream investments.
The roundtable, themed, “Delivering the Energy the World Needs: Recalibrating Upstream Projects”, brought together 21 global industry leaders to examine investment challenges, project financing, delivery mechanisms and strategies for sustainable growth in the energy industry.
Ezeobi explained that NCDMB’s mandate extends beyond enforcing compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act to developing indigenous human and material capacities and facilitating investments across the sector.
He said sustained engagement between the Board and industry stakeholders, particularly operating companies, had also contributed to the successful conclusion of major investment decisions.
Among the initiatives highlighted were the revised Nigerian Content Contracting Guidelines, introduced to streamline project approval processes, and the Nigerian Content Equipment Certificate (NCEC) Guidelines
According to him, the NCEC framework is designed to eliminate non-performing intermediary companies from industry operations and enable Original Equipment Manufacturers (OEMs) to provide services directly for deepwater projects.
The measures are expected to improve operational efficiency, reduce unnecessary layers of contracting and strengthen the participation of competent indigenous companies in major oil and gas projects.
Ezeobi urged international operating and service companies to explore investment opportunities in Nigeria, assuring them of the Board’s commitment to an environment where foreign investments can thrive alongside indigenous enterprise
He said the NCDMB would continue to promote technology transfer, local manufacturing, value addition and the development of Nigerian companies capable of competing in international markets.
He said: “We 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”.
The Nigerian delegation at the roundtable included the Managing Director of NNPC E&P Limited, Nicolas Foucart, and the Managing Director of NNPC 18 Operating Limited, Ibiyemi Asaolu.
Participants also examined ways to diversify upstream financing, accelerate field assessments, strengthen project delivery, increase hydrocarbon recovery and build a more resilient energy industry.
The discussions produced recommendations aimed at addressing financing constraints, improving the execution of complex upstream projects and supporting long-term industry growth.
Beyond the roundtable, NCDMB used its exhibition booth at ADIPEC 2026 to engage international stakeholders, explain Nigerian Content requirements and promote investment opportunities in the country’s oil and gas industry.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, accompanied by the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Wole Ogunsanya, was among the Nigerian industry stakeholders who visited the Board’s exhibition stand.
Lokpobiri challenged NCDMB to collaborate with other critical industry institutions to establish a stronger Nigerian presence at major international oil and gas conferences.
He said such platforms should be used to showcase the country’s investment opportunities and project the Nigerian oil and gas industry as a competitive destination for global investors.
Source: thenationonlineng.net