The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has said that data from its 10-year Strategic Roadmap, which was launched in 2017, shows that the 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, and individual registrations increased from 140,000 to almost 400,000 in five years.
Speaking during the 12th edition of the Practical Nigerian Content Forum held in Yenagoa on Tuesday, Wabote disclosed that site works for the expansion of the refinery capable of refining 10,000 bpd, whose construction started in September 2023 to introduce more litres of petroleum products into Nigeria, have commenced.
The Executive Secretary also revealed that NCDMB, in partnership with Waltersmith, established a 5,000-bpd modular refinery in Ibigwe, Imo State and that this year alone, the refinery has produced and sold over 170 million litres, 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 its theme: Deepening Nigerian Content Amidst Divestments, Domestication, and Decarbonization, draws stakeholders from the oil and gas industry to discuss the progress of 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 a 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 5,000-bpd modular refinery in Ibigwe, Imo State. This year alone, the refinery has produced and sold over 170 million litres, 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 work for the expansion of the refinery to a 10,000-bpd refinery commenced in September 2023.
“The three (3) other modular refineries are being progressed to completion and start-up. For example, the financial closeness of getting the remaining funding for Azikel Refinery is nearing completion with great support from AFREXIM Bank.
“While Duport Refinery 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 have rolled out five (5) pillars and four (4) enablers to drive the focus areas under the roadmap, each supported by 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% of the 96 initiatives under the strategic roadmap, with the 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 a 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 them by having manufacturing activities in place, which are scheduled for the first half of next year. Under the strategic roadmap, we set up a dedicated $50 million 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 to 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 fostering local content because there are various challenges and embracing change is very important.
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