NEWS
Nigeria - February 02, 2021
The Nigerian National Petroleum Corporation (NNPC) has reached an FID on the USD 3-billion Brass methanol plant, to be built in Bayelsa State.
The…
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Nigerian Content Development and Monitoring Board
Engr. Simbi WABOTE
Executive Secretary
NCDMB
Indigenous players must be ready to capitalise on new opportunities and fill in the gaps left behind by internationals.
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A model for successful local content
The Nigerian Content Development and Monitoring Board (NCDMB) has been instrumental in the development of Nigeria’s hydrocarbons industry and the local businesses that have flourished as a result of its efforts.
- Local expenditure: While less than 5% of oil and gas industry expenditures in Nigeria were spent locally in 2010, that figure jumped to 26% by 2017, and the NCDMB is pushing to achieve an industry spending retention rate of 70% by 2027.
- Pipe presence: Pipe facilities established with the NCDMB’s support include two world-class pipe mills with a combined capacity of 670,000 tpy and five pipe coating yards.
- Vessel ownership: As of 2020, almost 40% of marine vessels operating in Nigeria were owned by Nigerians.
Currently under the leadership of Engr. Simbi Wabote, the NCDMB was created in 2010 to increase local capacity and knowledge transfer within the oil and gas industry. It is operating under a 10-Year Strategic Roadmap lasting to 2027, by which year it expects to see an annual value retention of about USD 14 billion thanks to local content.
NCDMB in figures
Targeted local content level by 2027:70%
Targeted annual value retention by 2027:About USD 14 billion
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