The Nigerian Content Development and Monitoring Board (NCDMB) has reported that 132 local companies have accessed a combined total of N51.785 billion and $359.653 million from intervention funds aimed at boosting indigenous participation in the country’s oil and gas sector. The financing, which comprises the $350 million Nigerian Content Intervention Fund and the $50 million Working Capital Fund, is intended to strengthen the capacity of Nigerian firms.
According to NCDMB data, three manufacturing firms received N7.561 billion, while 38 companies secured N22.144 billion and $205.666 million for asset acquisition. Ten firms obtained N2.232 billion and $24.728 million to finance contracts, and 25 companies benefited from N15.98 billion and $115.998 million for loan refinancing.
NCDMB Director of Corporate Services Abdulmalik Halilu said the funding has markedly increased local participation in the sector, rising from 44 % three years ago to 61 % this year. He cited the NLNG Train‑7 project, which engaged about 8,000 Nigerians, as evidence of the tangible impact of local‑content policies. Halilu emphasized that local content is about domestication based on global best practices, not merely indigenisation or the promotion of inferior goods. He noted that the NCDMB has two core mandates—capacity building and enforcement—and that local content drives industrialisation, job creation, and the development of a research ecosystem.
The push for local content in Nigeria’s oil and gas industry dates back to 2001, when a study showed the sector prioritized revenue over in‑country value addition. The Nigerian Oil and Gas Industry Content Act, enacted in 2010, ensured that local content remained a sustainable feature of the sector. The NCDMB has adopted a structured approach, with every intervention guided by a clear framework and roadmap, and has encouraged large‑scale indigenous investment to create infrastructure that will support future projects and reduce reliance on foreign capacity.
Beyond Nigeria, the NCDMB is promoting local‑content development across Africa, recognizing the continent’s significant oil and gas reserves. Working through the African Petroleum Producers’ Organisation, the Board supports initiatives such as the Africa Energy Bank and the adoption of the Brazzaville Accord on local content. The NCDMB also plans to continue its efforts by supporting journalists through capacity‑building initiatives to improve industry reporting.
As the Nigerian oil and gas sector evolves, local content is expected to remain a key driver of industrialisation, job creation and economic growth, remaining a central focus for the NCDMB and other stakeholders.
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