The Federal Government has reiterated its commitment to deepening local content as a critical driver of industrialization, innovation, and inclusive economic growth in Nigeria’s oil and gas industry.
Senator Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), made this assertion while delivering the keynote address at the opening of the 2025 Nigerian Oil and Gas Opportunity Fair (NOGOF), taking place in Yenagoa, Bayelsa State.
He hailed the evolution of the Nigerian Content Development and Monitoring Board (NCDMB), noting that the agency had moved beyond regulatory enforcement to becoming a catalyst for enterprise development and technological advancement.
“I am proud of how the NCDMB has evolved—from fostering compliance to becoming a force for industrialization, innovation, and enterprise development,” Lokpobiri stated. “We have moved beyond setting targets to delivering real impact.”
Highlighting achievements in local capacity, the Minister said Nigerian companies are now constructing Floating Production Storage and Offloading (FPSO) units, managing key industry assets, and setting service standards that meet or exceed international benchmarks.
“This is the Nigeria we envisioned—one that sets global standards and becomes a reference point for other nations,” he added.
Lokpobiri also lauded the Nigerian Content Intervention Fund, managed by the Bank of Industry, as a major enabler of growth in the sector. “The fund has helped indigenous businesses scale operations and deliver value across the sector for the betterment of all of us,” he said.
He further applauded Project 100+, an initiative by the Ministry and NCDMB aimed at nurturing 100 local firms into globally competitive oil and gas companies. “These are not just regional players. They are being prepared to compete on the global stage,” he said.
Speaking on the fair’s theme—“Driving Investment & Production Growth: Shaping a Sustainable Future for Nigeria’s Oil & Gas Industry Through Indigenous Capacity Development”—the Minister described the event as a strategic national platform for actionable investment.
“The opportunities being showcased here are not theoretical—they are real, verifiable, and actionable,” Lokpobiri stressed. “We are unveiling multi-billion-dollar investment opportunities across the upstream, midstream, and downstream value chains—including crude oil processing, marginal field development, refining, construction, logistics, and more—all anchored in local content.”
Addressing industry stakeholders, he urged financiers, operators, and contractors to move from discussions to execution. “Use this moment to initiate commitments, spark concrete partnerships, sign meaningful MoUs, and take definitive investment decisions that will shape Nigeria’s oil and gas narrative for decades to come,” he charged.
To Nigerian youths and entrepreneurs, Lokpobiri offered an encouraging message: “You are not just the future—you are already in the driver’s seat. What you do today will determine the results we reap tomorrow.”
He added that the Ministry and NCDMB are investing in training, mentorship, and funding to equip young Nigerians with the skills to lead innovation in the energy space. “Whether you’re a startup, a young engineer seeking employment, or a local consultant—there is a place for you in Nigeria’s oil and gas ecosystem,” he assured.
Reaffirming President Bola Tinubu’s Renewed Hope Agenda, the Minister emphasized the administration’s commitment to transforming the sector into a pillar of national security, prosperity, and intergenerational wealth.
“The time for excuses is over. The time for serious, collective decision-making is now,” he said. “Under President Tinubu’s leadership, the oil and gas sector is being repositioned as a platform for national growth and justice.”
He called for national unity and confidence in Nigeria’s capabilities, urging stakeholders to make NOGOF 2025 a milestone event. “By the time we gather for NOGOF 2026, we should not just be talking about potential—we must be reviewing concrete milestones we’ve achieved,” Lokpobiri declared.
Delivering a pan-African perspective, the Minister concluded: “If Nigerian content fails, Africa fails. When we talk about African local content, we must be referring to Nigerian local content. We must lead by design.”
“We cannot afford to fail,” he said emphatically.
