Nigerian experts now dominate Nigeria’s oil and gas industry – NCDMB

Currently, Nigerian experts dominate the oil and gas industry in the country. The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, says this.

At the 11th Practical Nigerian Content Workshop in Uyo, Akwa Ibom State, he made this disclosure during his presentation.

Wabote estimates that as of November 2022, project management was 80% Nigerian-owned, while the oil and gas industry’s workforce was 81% Nigerian. Additionally, Wabote informed the audience that in 2022, the NCDMB registered a level of 54% Nigerian content.

He added that the average performance of Nigerian content over the previous five years has been 44%. He claims that the performance in 2022 is far superior to the Board’s target of 42%. This is a repetition of exceeding performance goals, such as the 42% achievement in 2021, which was higher than the goal of 38%.

How the Board came up with performance metrics: Wabote claimed that the Board’s ability to track and assess the nation’s oil and gas industry activities allowed it to meet its goals. He added that a key factor in exceeding the local content goals established was the awarding of contracts under the current Nigerian Liquefied Natural Gas (NLNG) Limited Train-7 project.

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Waboote noted that although 77 out of 96 projects listed in the Board’s Roadmap’s short- and medium-term categories had been completed in November 2022, the lowest completion rates were in the areas of procurement (34%), engineering (46%), and services (50%)

Wabote displayed the addition of 12 new indigenous operators, bringing the total to 97, in the upstream sector of the oil and gas business.

There were 1,303 new corporate arrivals in the service subsector, bringing the total to 9,532; moreover, 22,512 individual registrations were registered, bringing the total to over 271,000.

Engr. Wabote stated in April 2022 that the NCDMB has increased Nigerian content in the oil and gas sector by 42%. In keeping with the Board’s 10-year target (2017–2027) to achieve 70% by 2027, he pointed out that the growth corresponded to the retention of more than $8 billion of the $20 billion in yearly spending in the industry within the Nigerian economy.

Source: nairametrics.com