NCDMB unveils plan to catalyse industrialisation, develop African economy

Oredola Adeola

The Nigerian Content Development and Monitoring Board (NCDMB) has unveiled the plan to use Nigerian local capabilities in the oil and gas industry catalyse industrialization and overall development of the economy of Nigeria and other African countries.

Engr. Simbi Wabote, Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), made this known at a press conference to highlight some of the achievable targets for the fourth edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) 2023, billed to hold between 18 and 19 May, 2023 in Bayelsa State.

According to him, NCDMB’s goal is the showcase the various opportunities in the Nigerian oil and gas industry to foster partnership and development in the petroleum industry and  recognised the potential of oil and gas in the upliftment of economic growth in Nigeria and across Africa.

He said, “We will be excited to welcome delegates and governmental bodies from different parts of Africa to engage in quality discussions and explore new business opportunities that would stimulate investment, foster technology transfer and enhance local content across the African oil and gas value chain.

EnergyDay gathered that the NOGOF, a brainchild of NCDMB was  is a biennial events, brings together major players across the upstream, midstream, and downstream sectors of the  oil and gas industry in Nigeria and Africa to showcase opportunities that exist in the industry and present available in-country capacity.

Wabote however stated that the opportunity fair aligns with the key objectives of Nigerian Oil and Gas Industry Content Development Act 2010(NOGICD ACT), mandating the NCDMB to support the development of local capacities in Nigeria oil and gas industry, and to foster institutional collaboration, maximize utilization of Nigerians in oil and gas activities, link the oil and gas sector to other sectors of the economy, maximize utilization of the Nigerian resources, among other objectives.

The NCDMB’s boss said that the goal is to use NOGOF as a platform to promote these objectives and drive growth and development across the Nigerian oil and gas value chain.

“We will be engaging key stakeholders, fostering the development of local content, and strategize on capacity initiatives that will benefit the industry and the broader economy,”Wabote noted.

He earlier confirmed that the first and second editions of NOGOF were hosted in Akwa Ibom and Bayelsa States, respectively while the third was hosted virtually due to the COVID-19 pandemic. He also confirmed that the fourth edition is themed: ” The Oil and Gas Industry – Catalyst and Fuel for the Industrialization of Nigeria. ”

Wabote said, “The theme will highlight the critical role of the oil and gas industry in fueling industrialization and overall development of Nigeria’s economy.

“We are raising the bar at this year’s event by expanding their focus to include the linkage industries and extending our reach beyond Nigeria to the entire African continent.

“The agenda includes technical and opportunity sessions from various stakeholders, an exhibition that will enable networking opportunities to delegates and give organization opportunities to distinguish themselves and present their activities and products to delegates. There will also be the NOGOF Award Ceremony in recognition of distinguished industry players by NCDMB.

“Through the incorporation of linkage industries and expansion of  our reach beyond Nigeria to the entire African continent, we hope to showcase the various opportunities available in the oil and gas industry and foster partnerships that will drive the growth and development in the sector.

“They recognize that the oil and gas industry has the potential to catalyze industrialization and promote economic growth, not just in Nigeria, but across the continent.

“Delegates, partners, and governmental bodies are expected at the fair from different parts of Africa to engage in quality discussion and explore new business opportunities. In doing so, we hope to strategize on capacity initiatives that will benefit the industry and the broader economy.

Wabote however affirmed the commitment of NCDMB to providing information about various opportunities available to the stakeholders in the oil and gas industry, particularly investors.

He also revealed that a compendium of Nigerian Content opportunities in oil and gas industry 2023, have been prepared for all delegates to provide valuable resources that will guide the investigation strategies of interested parties in the Nigerian oil and gas industry.

He said, “The compendium will serve as a useful tool in identifying and pursuing investment opportunities that align with the local content requirements of the industry.

Funmi Ogbue, Chief Executive Officer, JAKE RILEY Limited, the principal consultant of NOGOF, in her comment said the opportunity fair is another demonstration of the outstanding leadership of Engr. Wabote.

She also noted that the fair will showcase the role of the NCDMB in democratising access and participation of Nigerians in the oil and gas industry with the view of expanding the scope of opportunities that comes out of it.

She said, “With the incorporation of the link industry and the reach to larger African countries, the stakes are even higher to ensure collaboration and success.

“It is really about domestication, it is about in-country technology and the need to retain financial and technical values in the country as much as possible.

“NOGOF 2023 will witness strong participation by delegates from other African countries, encourage meaningful discussions, networking opportunities and collaborations. We are grateful to all sponsors for their generosity and support by the industry atlarge to create a better future together,” Ogbue said.