NCDMB links $5.5b oil investments to NOGOF, pushes for African partnerships

The Nigerian Content Development and Monitoring Board (NCDMB) has linked the recent $5.5 billion final investment decisions (FIDs) by TotalEnergies and Shell to local initiatives like the Nigerian Oil and Gas Opportunity Fair (NOGOF).

Speaking at a press briefing in Abuja, NCDMB’s Executive Secretary, Felix Ogbe, said Nigeria must retain more value from its oil sector by increasing local investment and strengthening indigenous capacity.

He said other African countries are looking to Nigeria for investment opportunities, making regional collaboration essential for growth.

NOGOF, a biennial event launched in 2017, highlights investment prospects in Nigeria’s oil and gas industry.

The 2025 edition, themed ‘Driving Investment and Production Growth: Shaping a Sustainable Oil and Gas Industry through Indigenous Capacity Development’, will be held in Bayelsa state from 21st to 22nd May, with registration starting on 20th May.

Ogbe said past NOGOF editions have helped unlock investments, with projects like UBETA and Bonga North making progress.

Last year, TotalEnergies took FID on UBETA, which was about $500 million. Shell has also taken FID on Bonga North, which is about $5 billion.

Ogbe expects even greater participation this year due to recent government policies that have improved the investment climate.

To expand Nigeria’s reach in Africa’s oil sector, NCDMB has invited Ghana, Uganda, and Sierra Leone to present their projects at NOGOF 2025. Ogbe said this would create partnerships between Nigerian service providers and their African counterparts, boosting trade and industry growth beyond Nigeria.

The board is expected to release the Compendium of Nigerian Content Opportunities in the Oil and Gas Industry 2025 to help investors identify business opportunities aligned with Nigeria’s local content policies.

The Champions of Nigerian Content Awards will recognise individuals and companies contributing to local content development, he said.

Ogbe expressed confidence that NOGOF 2025 will strengthen Nigeria’s position as a major player in Africa’s oil and gas industry, attract more investments and drive economic growth.