The Nigerian Content Development and Monitoring Board (NCDMB), in collaboration with International Oil Companies (IOCs), is set to undertake a comprehensive audit of in country capacities across Nigeria’s oil and gas industry to identify strengths, close capability gaps and promote greater local participation in the sector.
The planned audit is expected to assess the availability of local skills, manufacturing capacity, engineering expertise, fabrication facilities and service providers involved in oil and gas operations. The initiative is aimed at ensuring that Nigerian companies are better positioned to participate in major energy projects while reducing dependence on imported goods and services.
According to industry stakeholders, the exercise will provide a comprehensive database of existing local capabilities, enabling operators and investors to identify qualified indigenous firms that can deliver goods and services in line with industry standards.
The NCDMB said strengthening local content remains a key priority in achieving sustainable growth within the petroleum industry. By identifying areas where local capacity is strong and where further investment is required, the board hopes to encourage technology transfer, skills development and increased domestic value addition.
International Oil Companies participating in the initiative are expected to work closely with the board to evaluate opportunities for expanding local procurement, increasing the use of Nigerian contractors and supporting capacity building programmes for indigenous businesses.
Industry experts believe the audit will improve collaboration between multinational energy companies and local enterprises, leading to increased investment, job creation and greater retention of industry value within the Nigerian economy. They added that stronger local capacity could also improve project delivery timelines and reduce operational costs.
The initiative aligns with the objectives of the Nigerian Oil and Gas Industry Content Development Act, which seeks to maximise the participation of Nigerians in all segments of the petroleum value chain while strengthening the competitiveness of indigenous companies.
Analysts noted that developing reliable local capacity has become increasingly important as Nigeria seeks to attract fresh investment into its oil and gas sector while ensuring that economic benefits from energy projects are widely shared across the country.
The NCDMB reaffirmed its commitment to working with industry operators, government agencies and private sector stakeholders to build a resilient and globally competitive oil and gas industry. The board expressed confidence that the planned audit will provide valuable insights that will support policy development, enhance local participation and contribute to the long term growth of Nigeria’s energy sector.
SOURCE: DAILY TRUST
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