NCDMB showcases reforms behind $10bn oil and gas investments
At ADIPEC 2026, the Board highlighted how policy incentives, improved industry processes, and partnerships are supporting major projects and creating opportunities for Nigerian businesses
More than US$10 billion in oil and gas investments and projects have been recorded in the past three years, reflecting renewed activity across the industry and efforts to create a more supportive environment for project development. The Nigerian Content Development and Monitoring Board (NCDMB) says its reforms and sustained engagement with industry operators have played an important role in this progress.
The Board highlighted these developments at the 2026 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), where it presented Nigeria’s investment opportunities and local content initiatives to international industry leaders.
Representing the Executive Secretary, Engr Felix Omatsola Ogbe, at a Strategic Leadership Roundtable on Wednesday, NCDMB’s General Manager, Corporate Communications, Dr Obinna Ezeobi, discussed the measures supporting investment decisions and the advancement of major projects in the oil and gas sector.
He attributed the industry’s recent investment activity to a combination of targeted Executive Orders and incentives introduced by the administration of President Bola Ahmed Tinubu, alongside reforms by NCDMB, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd).
A significant part of the Board’s contribution has been its work to improve industry processes and strengthen collaboration with operating companies. Ezeobi noted that sustained engagement with these stakeholders had helped advance major projects towards Final Investment Decisions (FIDs), an important stage in securing the investments required for development.
He also highlighted two initiatives designed to improve the way projects are executed. The revised Nigerian Content Contracting Guidelines have streamlined project approval processes, while the Nigerian Content Equipment Certificate (NCEC) Guidelines are helping Original Equipment Manufacturers (OEMs) participate directly in deepwater projects by reducing the involvement of intermediary companies that do not provide actual services.
These initiatives form part of the Board’s wider responsibility to develop Nigerian human and material capacity, promote compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and ensure that local businesses benefit from activities in the sector.
Speaking on the opportunities ahead, Ezeobi encouraged international operating and service companies to explore the Nigerian oil and gas industry. He reaffirmed NCDMB’s commitment to supporting an environment where international investment complements Nigerian enterprise, with technology transfer, local manufacturing and value addition helping domestic companies build capacity and compete in wider markets.
Also Read: NCDMB targets gaps in local oil and gas equipment manufacturing
The roundtable, themed “Delivering the Energy the World Needs: Recalibrating Upstream Projects”, brought together 21 global industry leaders to discuss investment, project financing, delivery and sustainable growth in the energy sector.
Nigeria’s delegation included Nicolas Foucart, Managing Director of NNPC E&P Limited, and Ibiyemi Asaolu, Managing Director of NNPC 18 Operating Limited. Discussions covered practical ways to diversify upstream financing, accelerate field assessments, strengthen project delivery, increase hydrocarbon recovery and build a more resilient energy future.
NCDMB also used its exhibition booth at the conference to engage international stakeholders, explain Nigerian content processes and attract potential investors interested in opportunities within the country’s oil and gas industry.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr Wole Ogunsanya, were among the Nigerian stakeholders who visited the exhibition stand.
Lokpobiri encouraged NCDMB to collaborate with relevant industry agencies to create a stronger Nigerian presence at major international oil and gas conferences. He noted that a coordinated showcase would help project the industry’s investment opportunities and present Nigeria more effectively to global energy players.
