Oil & Gas: 70% local participation achievable by 2027 — NCDMB


With local companies providing 50 percent of activities in the on-going $5 billion Nigeria LNG train-7 project, the Nigerian Content Development and Monitoring Board has insisted that growing that number to 70 percent by year 2027 remains feasible.

Speaking to journalists in Abuja, ahead of the 2023 Nigerian Oil and Gas Opportunity Fair, NOGOF, in Bayelsa State, the Executive Secretary, NCDMD, Engr. Simbi Wabote said the participation of local companies in the execution of major projects in the country would continue to grow given the vast array of skilled capacity in the country. Wabote pointed out that the attainment of 50 percent in the NLNG train-7 project was made possible because Nigerian companies had prior information and details about the project.

He explained that “one of the key objectives of NOGOF 2023 is to bring together key stakeholders in the oil and gas industry to discuss ways to deepen local content by leveraging identified opportunities and identify solid ways to move the industry forward.

He stressed that NCDMB remains “committed to providing information about the various opportunities available to stakeholders in the oil and gas industry, particularly investors. As such, we have prepared a Compendium of Nigerian Content Opportunities in the Oil and Gas Industry 2023, which will be made available to all delegates at the event.”

Source- Vanguard Newspaper.

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