NCDMB laments Nigeria's inability to enhance local content potential in oil, gas industry

Oredola Adeola

The Nigerian Content Development and Monitoring Board (NCDMB) has described as unfortunate the country’s inability to evolve a coherent strategy to maximize the local content potential in the midstream and downstream sector of the oil and gas industry.

Executive Secretary, NCDMB, Engr. Simbi Kesiye Wabote, made this known while announcing the Board’s plans to host the maiden edition of the Nigerian Content Midstream/Downstream Oil & Gas Stakeholders Summit, with theme, Maximizing Potentials in the Midstream and Downstream Oil and Gas Sector – A Local Content Perspective.

According to him, the Nigerian oil and gas industry has witnessed major projects in the Midstream and Downstream sectors of the oil and gas industry in the last six years.

Engr. Wabote regretted that despite these developments, the midstream and downstream sectors still lack a coherent strategy to maximize the local content potential of these massive investments.

He hinted that the workshop would seek to articulate an agenda for actualizing the full potential of massive investments that have poured into the midstream and downstream sectors of the Nigerian Oil and gas industry, with a view to maximizing the expected benefits to the national economy.

Wabote listed some of the projects as including the NLNG Train 7 Project, the AKK Gas pipeline, the Dangote 650,000 barrels per day refinery, amongst others.

He added that the NCDMB has also made huge investments in modular refineries, LPG Storage and Bottling Plants and Depots, amongst other interventions.

The Summit will be held on May 23 & 24, 2022 at the Lagos Continental Hotel, Victoria Island, Lagos and will also be hosted on Zoom to increase the opportunity of participation by industry stakeholders. The

Executive Secretary, NCDMB, Engr. Simbi Kesiye Wabote explained that the event would be attended by the Minister of State for Petroleum Resources, Chief Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Company, Mallam Mele Kyari. Other notable attendees are expected to include Alhaji Aliko Dangote, Chairman of the Dangote Group; Austin Avuru, Executive Chairman of AA Holdings; and Alhaji Abdulsamad Rabiu, Chairman of the BUA Group.