NCDMB council and management chart new path for corporate governance and performance
At a two-day retreat in Akwa Ibom, NCDMB’s Governing Council charts new paths for accountability, collaboration, and stronger local content delivery.
Determined to strengthen Nigeria’s local content drive and improve corporate governance in the oil and gas sector, the Governing Council and top Management of the Nigerian Content Development and Monitoring Board (NCDMB) held a two-day retreat in Ikot Ekpene, Akwa Ibom State, over the weekend.
The retreat brought together the Minister of State for Petroleum Resources (Oil) and Chairman of the Governing Council, Senator Heineken Lokpobiri; the Minister of State for Petroleum Resources (Gas) and Co-Chairman, Rt Hon. Ekperikpe Ekpo; members of the Governing Council; and key NCDMB Directors.
The Executive Secretary, Engr. Felix Omatsola Ogbe, who was on an international assignment, was represented by Engr. Abayomi Bamidele, Director of Capacity Building. It was the first retreat for the current Council since its inauguration in the first quarter of 2024.
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In his opening remarks, Senator Lokpobiri said the retreat was designed to align the Council with the Board’s statutory mandate under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010 and to promote understanding between both arms of the organisation. He emphasised the importance of clearly defined roles and cooperation between the Council and Management, stressing that mutual trust and transparency were essential for the success of the Board’s mandate.
“The NCDMB has evolved into a business enabler for the oil and gas industry, creating the right environment for indigenous companies to thrive,” he said, urging the Management to be more open in communicating its activities and challenges.
Representing the Executive Secretary, Engr. Bamidele welcomed the Council members and expressed appreciation for their participation. He described the retreat as “a unique opportunity for mutual interaction, strategic bonding, and a deeper understanding of the operations, challenges, and aspirations of the Board.”
He noted that the functions of the Governing Council, outlined in Section 75 of the NOGICD Act, include providing policy direction, approving strategic operational plans, and ensuring effective implementation of Nigeria’s content policy. He added that the commitment of Council members to these roles had helped sustain momentum and achieve key milestones in the Board’s work.
The Executive Secretary highlighted some of NCDMB’s landmark achievements: the creation of the Nigerian Content Intervention Fund (NCIF), the ongoing implementation of the 10-Year Strategic Road Map (2017–2027), and a rise in local content from 5 percent in 2010 to 56 percent today. These, he said, have contributed to significant in-country value retention and increased investor confidence in Nigeria’s oil and gas industry.
The retreat featured a series of technical sessions and presentations by experts on governance, fiscal policy, and performance strategy. Former Head of the Civil Service of the Federation, Dr Folasade Yemi-Esan, presented a paper on “Corporate Governance, Accountability and Efficiency,” where she stressed that Council members must understand their duties under the enabling law, provide strategic oversight, and insist on accountability, while also allowing Management room to execute its functions.
Speaking from experience, Dr Yemi-Esan underscored the need for collaboration rather than control, distinguishing between governance oversight and administrative responsibilities.
Other papers presented included “Overview of NCDMB’s Structure and Operations” by Engr. Abayomi Bamidele; “The New Tax Laws and Their Implications for NCDMB and the Nigerian Content Development Fund (NCDF)” by Mr Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms; and “Strategies for Optimising Performance and Deepening Local Content” by Professor Nkem Iheanachor of Lagos Business School. There was also a session on “The Purpose and Status of NCDF Contributions and the Impact of the Nigerian Content Intervention Fund (NCIF).”
Between sessions, members of the Governing Council and Management paid a courtesy visit to the Governor of Akwa Ibom State, Pastor Umo Eno, at the Government House in Uyo. Speaking for the delegation, Senator Lokpobiri thanked the Governor for the warm reception and commended the State for maintaining a high standard of governance and service delivery.
Governor Eno, in turn, expressed gratitude to the NCDMB for selecting Akwa Ibom as the venue and acknowledged the Board’s capacity-building interventions in the State. He highlighted the State’s development of an Oxygen Production Plant and ongoing plans to expand compressed natural gas (CNG) utilisation, expressing optimism about future collaborations with the Board.
Those in attendance from the NCDMB included Engr. Abayomi Bamidele, Director of Capacity Building; Mr Naboth Onyesoh, Director of Legal Services; Mr Silas Ajimijaye, General Manager, Monitoring and Evaluation (Midstream); Ms Tassala Tersugh, General Manager, Midstream; Mr Teddy Bai, Deputy Manager, Government Relations; Engr. John Barigha, Supervisor, Marine Vessel Categorisation; Ikenna Ezeguzo, Supervisor, Movable Assets; and Mr Prince Foncha, Officer, Corporate Communications Division.
By the close of the retreat, both the Council and Management reaffirmed their shared commitment to deepening corporate governance, strengthening accountability structures, and ensuring that Nigeria’s local content gains are sustained and expanded in the years ahead.
