President Bola Tinubu has approved the nomination of four new members to the Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB).
The appointment is aimed at filling existing vacancies and strengthening the board’s capacity to drive local content development in Nigeria’s oil and gas sector.
In a statement released today, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, confirmed the new appointments and expressed the administration’s commitment to promoting Nigerian participation in the oil and gas industry.
The statement emphasized that these nominations were necessary to ensure that the board continues to function efficiently in line with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act of 2010.
The newly appointed members of the NCDMB Governing Council include Mr. Olusegun Omosehin, representing the National Insurance Commission; Engr. Wole Ogunsanya, representing the Petroleum Technology Association of Nigeria; Sam Onyechi, representing the Nigerian Content Consultative Forum; and Barrister Owei Oyanbo from the Ministry of Petroleum Resources.
Strengthening Local Content Development
President Tinubu urged the newly appointed members to leverage their expertise and dedication to enhance local content development within Nigeria’s oil and gas industry. He reiterated that the success of the country’s oil and gas sector depends largely on the ability of industry stakeholders to promote indigenous participation, create employment opportunities for Nigerians, and boost the economy through sustainable practices.
“The nominations arose from the exit of previous institutional representatives from the Governing Council. Their replacements have been carefully selected based on their experience and commitment to the principles of Nigerian content development,” the statement read.
The NCDMB Governing Council, established under Section 69 of the Nigerian Oil and Gas Industry Content Development Act, 2010, comprises representatives from key institutions. These include the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, the Nigerian National Petroleum Company Limited (NNPC), the Petroleum Technology Association of Nigeria, the Council for the Regulation of Engineering in Nigeria (COREN), the Nigerian Content Consultative Forum, and the National Insurance Commission.
The Role of NCDMB in Nigeria’s Oil and Gas Industry
The Nigerian Content Development and Monitoring Board (NCDMB) plays a critical role in ensuring the implementation of local content policies in the oil and gas industry.
The board is tasked with enforcing compliance with the NOGICD Act, which mandates that a significant percentage of services, projects, and contracts in the oil and gas industry be handled by Nigerian companies and professionals.
Since its establishment, the NCDMB has made significant strides in increasing Nigerian participation in the sector, fostering technological development, and supporting indigenous businesses.
The newly appointed members are expected to build on these achievements by introducing fresh ideas and strategies to further strengthen the industry.
Expectations from the New Appointees
As key stakeholders in the sector, the new NCDMB council members are expected to work towards achieving the government’s local content objectives.
Their responsibilities include overseeing policy implementation, ensuring that foreign and local investors comply with local content regulations, and fostering partnerships that will drive innovation in Nigeria’s oil and gas industry.
With President Tinubu’s administration focused on revitalizing Nigeria’s economy, the role of the NCDMB in supporting indigenous enterprises, attracting investment, and enhancing skills development is more critical than ever.
The board’s policies are expected to boost job creation and ensure that Nigerian businesses benefit from the opportunities available in the oil and gas sector.
Reactions to the Appointments
Industry stakeholders have reacted positively to the appointments, expressing optimism that the newly appointed members will bring in valuable expertise and contribute to the growth of the sector. The Nigerian Association of Petroleum Explorationists (NAPE) commended the decision, stating that the inclusion of experienced professionals would help tackle challenges in local content implementation.
Similarly, representatives from the Nigerian Chamber of Commerce and Industry highlighted the importance of the NCDMB in creating an enabling environment for local businesses to thrive in the oil and gas industry.
They urged the new appointees to prioritize collaboration with private sector players to enhance the board’s impact.
Meanwhile, some experts have called for a review of local content policies to ensure that Nigerian companies remain competitive in the global energy landscape.
They emphasized the need for continuous capacity building, technology transfer, and improved funding mechanisms to support indigenous businesses.
As Nigeria continues to navigate the evolving energy landscape, the NCDMB remains a crucial institution for driving the country’s local content agenda. The appointment of new members to its Governing Council is expected to provide fresh momentum for achieving the board’s objectives.
With a renewed focus on policy enforcement, capacity development, and industry collaboration, the Tinubu administration is signaling its commitment to strengthening the oil and gas sector.
The success of these efforts will depend on the ability of stakeholders to work together in promoting local participation and ensuring sustainable growth in Nigeria’s energy industry.
The newly appointed council members are set to assume their roles immediately, and industry watchers will be closely monitoring their contributions to the development of local content in Nigeria’s oil and gas sector.
Their performance in the coming months will be a key indicator of the administration’s commitment to economic diversification and job creation through the promotion of indigenous businesses.
