The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Simbi Wabote, has said that data from its 10-year Strategic Roadmap which was launched in 2017 shows that number of local registered industry operators in Nigeria’s oil and gas sector moved from 53 to 114 in 2023, service companies increased from 8,000 to 11,000 while individual registrations have increased from 140,000 to almost 400,000 in five years.
Speaking during the 12th edition of the Practical Nigerian Content Forum holding in Yenagoa, Bayelsa State, on Tuesday, Wabote, disclosed that site works for the expansion of the refinery capable of refining 10,000bpd which construction started in September 2023 to introduce more liters of petroleum products into Nigeria’s market has commenced.
The executive secretary also revealed that NCDMB’s, in partnership with Waltersmith, established a 5,000bpd modular refinery in Ibigwe, Imo State, and that this year alone, the refinery has produced and sold over 170million liters or about 3,000 trucks of petroleum products that would have been hitherto imported using our scarce forex.
The 12th edition of the practical Nigerian Contest Forum which has as it theme: Deepening Nigerian Content Amidst Divestments, Domestication & Decarbonisation, draw Stakeholders from oil and gas industry to discuss on the progress of the local content in the country.
He said the technical operations data in NOGIC-JQS shows that the number of registered industry operators moved from fifty-three (53) in 2018 to one hundred and fourteen (114) in 2023 representing about 100% increase, adding that within the same period, service companies increased from 8,000 to 11,000 while individual registrations increased from 140,000 to almost 400,000.
He said: “Regarding our Commercial Ventures portfolio, we partnered with Waltersmith to establish a 5,000bpd modular refinery in Ibigwe, Imo State. This year alone, the refinery has produced and sold over 170million liters or about 3,000 trucks of petroleum products that would have been hitherto imported using our scarce forex. I am pleased to note that site works for the expansion of the refinery to 10,000bpd refinery commenced in September 2023.
“The three other modular refineries are being progressed to completion and start-up. For example, the financial close to get the remaining funding for Azikel Refinery is nearing completion with the great support from AFREXIM bank.
“While Duport Refiney in Edo State is essentially complete, we are looking at the various options and offers before us to bring closure to the partnership in line with our investment policy.
“At the end of the year 2017, we launched our 10-year Strategic Roadmap aimed at increasing Nigerian Content in the oil and gas industry to 70% by the year 2027.
Our guests and stakeholders in the industry will recall that we had rolled out five (5) pillars and four enablers to drive the focus areas under the roadmap, each supported with short, medium, and long-term initiatives.
I am delighted that the journey has been transformational from where we started to the point where we are now.
“We have completed 83 percent of the 96 initiatives under the strategic roadmap with focus now shifting to the remaining initiatives that require some heavy lifting to bring into fruition. With the support of the industry, our sponsors, principals, advocates, staff, contractors, host communities, and even critics, the transformational impact of the delivery of these initiatives has been of resounding success.
“Under this pillar, we have transformed two of our portfolio of NOGAPS sites from bare land to industrial parks to support in-country manufacturing and assembly of equipment and input materials required for exploration and production activities.
“While these two NOGAPS sites are essentially ready for commissioning, we are keen to operationalize it by having manufacturing activities in place which is scheduled for first half of next year. Under the strategic roadmap, we set up a dedicated $50million fund to co-finance industry research and development activities.”
Minister of State for Petroleum Gas, Senator Heineken Lokpobiri, said the establishment of NCDMB has brought a lot of positive changes in the oil and gas industry.
Speaking through the Permanent Secretary in the Ministry of Petroleum Resources, Amb. Gabriel Aduda, Lokpobiri said that Nigeria is committed to foster local content, because there are various challenges embracing the change is very important.
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