To give life to the dreams of the president, Asiwaju Bola Ahmed Tinubu, on the “Nigeria First” policy, the Nigerian Content Development and Monitoring Board (NCDMB) says it will continue to work with relevant stakeholders in that direction.
In fact, the board has vowed to ensure that the stakeholder get fully committed to implementing the policy, being a key directive of the president, aimed at boosting local production and patronage of locally made goods and services, reducing dependence on imported items.
Executive Secretary of NCDMB, Felix Omatsola Ogbe made this commitment at the opening ceremony of the ongoing Nigerian Oil and Gas energy week in Abuja on Monday, describing the policy as a strong reinforcement of the Board’s core mandate of promoting Nigerian Content in the oil and gas industry.
“For Nigeria, energy sufficiency goes beyond availability, it is about building resilience, ensuring sustainability, and protecting our sovereignty. That is why we say local content is not just a policy, it is a strategic imperative.” Ogbe noted.
Speaking on theme, ‘Achieving Energy Sufficiency through Local Content implementation’, Ogbe observed that achieving energy sufficiency will require deepening Nigeria’s local capabilities across the oil and gas value chain from exploration and production to processing, manufacturing, and services. He said prioritising local capacity would not only retain economic value within Nigeria but also mitigate supply disruptions, create jobs, and foster technological growth.
The “Nigeria First” policy is the latest in a series of government interventions designed to strengthen domestic content. The NCDMB boss referenced landmark initiatives such as the NOGICD Act 2010, Executive Orders 001 and 005, and the Presidential Directives on Local Content issued in 2023, which were aligned with President Tinubu’s 8-Point Agenda.
According to Ogbe, the new policy was rooted in a clear principle: “All goods or services that are produced and/or available locally will not be procured from foreign sources unless there is a clear and justifiable reason.” “This aligns with Section 3(1) of the NOGICD Act, which mandates first consideration for Nigerian made goods and services provided they meet industry standards.”
The executive secretary said to translate the policy into action, the board announced a series of implementation steps which include the development of a dedicated “Nigeria First Procurement Policy” for the Board, integration of the policy into internal systems, and its application in the review of Nigerian Content Plans (NCPs), Compliance Certifications, and Authorisation Certificates.
He disclosed further that NCDMB will commission two major baseline studies to verify the capacities of Nigerian service providers and to identify locally manufactured consumables used in the oil and gas sector.
“The Nigeria First policy is a bold commitment to national pride, industrial competence, and long-term economic sustainability. At the NCDMB, we are prepared to lead the charge in making this vision a reality.” Ogbe committed.
In a related development, the NCDMB has unveiled a restructured approach to its N50bn Community Contractors Financing Scheme — a key component of the Nigerian Content Intervention (NCI) Fund.
Originally launched in 2018 to support indigenous contractors from oil-producing host communities, the community contractors Fund had recorded little traction until recent efforts under the Ogbe set the scheme on a path to revival.
Moderating a session on Deepening Community Participation Through Accessible Financing, NCDMB’s General Manager, Corporate Communications, Dr. Obinna Ezeobi, noted that while other products under the NCI Fund have performed remarkably well, the Community Contractors Fund had lagged behind. He attributed the renewed focus on the scheme to the Executive Secretary’s personal commitment to grassroots empowerment.
General Manager, Nigerian Content Development Fund, Ms. Fatima Mohammed noted that new features had been introduced to the fund. The restructured fund allows for increased borrowing limits — up to ₦100 million for community contractors in the oil and gas industry, with single digit interest rate per annum. Beneficiaries must be verified community contractors with valid projects for international or indigenous oil and gas companies.
The Board also introduces simplified collateral terms, and plans to carry out extensive sensitization programmes, with disbursements expected in the coming months.
She added: “We want to see host communities actively participate in the oil and gas ecosystem. After a comprehensive review, we discovered that the centralised structure of the scheme was limiting its effectiveness. We’ve now decentralised it through the involvement of Performing Financial Institutions (PFIs),” she said.
