Africa’s ambition of achieving a $3 trillion economy is gaining momentum, thanks to concerted efforts in enhancing local content strategies. The Nigerian Content Development and Monitoring Board (NCDMB) has outlined a clear path for Sub-Saharan African (SSA) countries to follow to harness their full potential in the oil and gas sector.

During the 9th Sub-Saharan African International Petroleum Exhibition and Conference (SAIPEC) in Lagos, Engr. Felix Omatsola Ogbe, the Executive Secretary of NCDMB, emphasised the need for a unified approach to strengthen local content development and advance industrialisation.

Engr. Ogbe delivered his thoughts in a paper he presented as a keynote address on Tuesday, February 11, 2025, the second day of the four-day exhibition.

It was noteworthy while the executive secretary was making his remarks that nations like Nigeria, Angola, and Ghana have made notable strides in their local content push which is focusing on launching indigenous capacities in the oil and gas sector, however, there are still deep challenges. 

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One of the problems observed in the keynote speech was that fragmented implementation continues to hinder collective progress and this won’t benefit anyone.

He called for collaboration among petroleum-producing nations in SSA to share best practices and enhance cross-border partnerships, which could drive indigenous companies to be globally competitive and reduce reliance on expatriates.

In his keynote address titled “Sub-Saharan Africa Local Content Collaboration Strategy,” Engr. Ogbe identified key pillars crucial to this strategy.

One is the harmonisation of local content policies which happens by establishing a robust local content framework for long-term economic prosperity through collaborative efforts with organisations like APPO, UNECA, and of course the African Union.

With targeted human capital development, the NCDMB boss envisages capitalising on Africa’s young population, with approximately 60% under the age of 25, to drive development and increase productivity. A large, young workforce according to the executive secretary can drive expansion through increased productivity and expansion.

Investment in infrastructure is key and the executive secretary highlighted projects like the Dangote Integrated Refinery and Petrochemical Company, Kenya’s Konza Technology City, and the Lekki Free Trade Zone. They are examples of partnership opportunities for regional economic growth.

When they have been discovered, funding for the local companies will be key. So, here, the NCDMB is advocating for a regional fund or financial framework that is expected to provide credit facilities, guarantees, and investment incentives.

The soon-to-be-operational African Energy Bank is a notable example.

Capping it all was the emphasis on technology transfer and innovation, an initiative that has played out with Nigeria helping close neighbour Ghana and the more distant Namibia in that area of building from the ground up.

Leveraging the African Continental Free Trade Agreement (AfCFTA)

Engr. Ogbe underscored the significance of the AfCFTA as a critical legal framework to achieve a collaborative local content strategy.

By integrating 1.3 billion people across 54 African countries with a combined GDP of over $3 trillion, the AfCFTA offers a unique opportunity to foster collaboration and economic growth.

The executive secretary still making his presentation cited several strategic projects as catalysts for this regional growth away from European markets and personnel.

One such is the Lagos-based Dangote Integrated Refinery and Petrochemical Company. It is a 650,000-barrel-per-day facility in Nigeria that offers partnership opportunities for sourcing petroleum products and fertilizer.

So is Kenya’s Konza Technology City which serves as a hub for technological advancements and innovations.

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Recently, the management of the SHI-MCI FPSO Fabrication/Integration Yard situated at the Tarkwa Bay beach, also in Lagos, has been making pitches to the Nigerian Content Development and Monitoring Board to use them more because of the drought of work and engagements since Covid-19 hit and they were listed as one of the avenues for partnership.

In all, it means that sub-Saharan African countries at the moment have what it takes to be successful.

The overall strategy envisioned by Engr. Ogbe includes significant roles for academia and research institutions. He emphasised the need for collaboration on industry-driven research, innovations, and skills development.

By working together, he said, we can create a formidable and self-reliant petroleum sector that delivers long-term benefits for our economies, businesses, and people.

Insights that came ahead

Earlier, Mr. Abdulmalik Halilu, Director of Monitoring and Evaluation at NCDMB, discussed the Local Content Value Proposition for Africa, highlighting the importance of research, technology development, local employment, strategic partnerships, and supply chain optimisation.

The 9th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) continues in Lagos, offering further insights and collaborative opportunities for the region’s growth.

By leveraging these strategies and projects, SSA countries are poised to unlock their potential and achieve a thriving $3 trillion economy.

ALSO READ: Why NCDMB thinks the world’s largest trade area AfCFTA should run without visa restrictions

Ayodele Johnson

Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.