NCDMB, NCCF Convene Strategic Retreat in Lagos

  By Majesty Inegbagha 

The Nigerian Content Development and Monitoring Board, in partnership with the Nigerian Content Consultative Forum (NCCF), on Monday in Lagos, convened a strategic retreat to review progress and strengthen Nigeria’s local content framework in the oil and gas sector.

Discussions highlighted significant gains under the NOGICD Act, including an increase in local content from 5% in 2010 to 56% in 2024, with a target of 70% by 2027. The sector has also recorded growth in indigenous ownership, job creation exceeding 50,000, and annual in-country value retention of about $8 billion.

Key initiatives such as the R&D Fund, modular refineries, oil and gas parks, and the Nigerian Content Intervention Fund were noted, alongside the supporting role of the Petroleum Industry Act.

Stakeholders, however, emphasized the need for improved enforcement, transparency, and alignment with industrialization goals, particularly in technology transfer and local manufacturing. The retreat reaffirmed commitment to deepening local participation and sustainable industry growth.