The Nigerian Content Development and Monitoring Board (NCDMB) has announced that local content in Nigeria’s petroleum industry has risen to 61 per cent, marking a significant step toward the country’s 70 per cent target set for 2027.
NCDMB Executive Secretary, Felix Ogbe, disclosed this on Tuesday in Yenagoa during the 2025 Practical Nigerian Content event, where he also unveiled a $100 million Nigerian Content Equity Investment Fund to be managed by the Bank of Industry.
Ogbe said the new figures reflect an increase from the previously reported 56 per cent, attributing the improvement to sustained implementation of the Board’s 10-year strategic roadmap. He added that the Board had recorded progress in key initiatives, including the take-off of the Nigerian Content Academy and ongoing work at the Oloibiri Museum and Research Centre.
On human capital development, Ogbe revealed that over 11,000 applications had been received for the Oil and Gas Field Readiness Training Programme designed to equip young Nigerians with the top 10 in-demand industry skills.
“We will continue to embark on significant programmes that will positively impact the oil and gas sector in the coming year,” he stated.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, said the Federal Government had intensified efforts to persuade international oil companies that exited the country to return. He warned, however, that the implementation of the Local Content Act must be handled with caution to avoid disrupting industry operations.
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His counterpart in the Gas Ministry, Ekperikpe Ekpoh, expressed the government’s commitment to ensuring that the oil and gas sector delivers tangible benefits to Nigerians.
Declaring the forum open, Bayelsa State Governor, Senator Douye Diri—represented by Secretary to the State Government, Nimibofa Ayawei—said the state continues to bear the greatest burden of oil and gas activities and called for policies that address the environmental and socioeconomic impact.
Other speakers at the event included the Chairman of the Senate Committee on Local Content, Senator Joel Onowakpor-Thomas, and the Chairman of the House Committee on Local Content, Hon. Boma Goodhead.