By Sandra Chukwunyere
The Nigerian Content Development and Monitoring Board (NCDMB) has highlighted Nigeria’s growing attractiveness as a destination for oil and gas investments, citing policy reforms and local content initiatives that have helped attract international projects and investment commitments valued at over $10 billion within the past three years.
The Board attributed the development to targeted Executive Orders and strategic incentives introduced by the administration of President Bola Ahmed Tinubu, alongside policy reforms implemented by key agencies in the Nigerian oil and gas industry.
According to a statement signed by Dr. Obinna Ezeobi, General Manager, Corporate Communications Division, NCDMB, the Board presented its investment promotion efforts at a Strategic Leadership Roundtable Briefing during the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) in Abu Dhabi, United Arab Emirates.
Ezeobi represented the Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe, at the high-level roundtable held on Wednesday. The meeting, 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.
During his presentation, Ezeobi outlined NCDMB’s mandate to develop Nigerian human and material capacities, ensure compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and promote investments across the country’s oil and gas sector.
He explained that policy reforms implemented by NCDMB, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd.) had enhanced investor confidence and improved the competitiveness of Nigeria’s energy sector.
The NCDMB official also identified sustained engagement and partnerships with key industry stakeholders, particularly operating companies, as important factors behind recent Final Investment Decisions (FIDs) and major investment commitments.
Highlighting specific initiatives that have supported the industry’s growth, Ezeobi cited the revised Nigerian Content Contracting Guidelines, which have streamlined project approval processes.
He also identified the Nigerian Content Equipment Certificate (NCEC) Guidelines as another significant reform 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 explore investment opportunities in Nigeria’s oil and gas industry, assuring them of the Board’s continued support for an investment environment that promotes international investments alongside Nigerian enterprises.
He emphasised that NCDMB would continue to encourage technology transfer, strengthen domestic capabilities, promote local manufacturing and value addition, and support Nigerian companies to compete beyond the country’s borders.
The Nigerian delegation at 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 also examined investment opportunities, strategies for navigating complex operating environments and approaches to supporting long-term industry growth and economic development.
They recommended practical measures to diversify upstream financing, accelerate field assessments, strengthen project delivery mechanisms, increase hydrocarbon recovery and build a more resilient energy future.
Meanwhile, NCDMB established an exhibition booth at the 2026 ADIPEC Conference to showcase Nigerian content processes, engage international stakeholders and attract potential investors to the country’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, were among the Nigerian stakeholders who visited the Board’s exhibition booth.
During the visit, Lokpobiri challenged NCDMB to collaborate with key agencies in the Nigerian oil and gas industry to organise a prominent showcase at major international oil and gas conferences.
He urged the Board to use such platforms to project Nigeria’s oil and gas industry positively and strengthen its profile as an attractive investment destination.
The ADIPEC Strategic Leadership Roundtable provided a platform for global energy leaders to exchange insights and develop collaborative solutions to meet rising energy demand while promoting sustainable industry development.
