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From Adewale Sanyaolu, Houston, Texas
Nigeria is leveraging a multi-billion dollar deepwater oil project to attract global Original Equipment Manufacturers (OEMs), in a move to strongly position itself as a major hub for oil and gas manufacturing and services.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, stated this yesterday during his presentation at the NCDMB/Petroleum Technology Association of Nigeria (PETAN) OEM Networking Forum held on the sidelines of the Offshore Technology Conference (OTC) 2026 in Houston, Texas.
Ogbe, who was represented by the General Manager, Monitoring and Evaluation, Mr. Silas Ajimijaye, said recent Final Investment Decisions (FIDs), including the $20 billion Shell Bonga Southwest Aparo deepwater project are driving a new wave of opportunities for OEMs seeking entry into Nigeria’s oil and gas value chain.
He noted that the country has secured three major FIDs within 18 months, alongside the approval of 28 field development plans valued at $18 billion, collectively unlocking about 600,000 barrels per day of additional production capacity.
According to him, the scale of these investments signals renewed confidence by global energy players, including Shell, which committed $5 billion to the Bonga North project.
“When the world’s largest energy companies are accelerating into a market rather than retreating from it, that is your signal. Nigeria is that market and now is that moment,” he said.
To support this investment drive, Ogbe said Nigeria has introduced sweeping reforms aimed at removing longstanding bottlenecks that previously discouraged investors.
He explained that Nigerian Content Plan approvals now carry a legally backed 10-day deadline, with automatic approval granted if timelines are not met, while contracting cycles have been significantly reduced from 18 months to between four and six months.
“These reforms are not policy intentions; they are gazetted law,” he stated.
The NCDMB boss also disclosed that the Board has eliminated the use of intermediaries and non-performing entities in the certification process, a move designed to improve execution quality and investor confidence.
Under the new Equipment Certificate Guidelines issued in December 2025,he said only companies with verifiable assets and operational capacity can obtain certification, following mandatory physical inspections.
He added that the previous 51 per cent Nigerian equity requirement has been removed, allowing OEMs to establish majority-owned joint ventures while still complying with local content objectives.
He said the reforms are aimed at creating a transparent and predictable business environment where global manufacturers can invest, transfer technology and build long-term partnerships with credible Nigerian firms.
Ogbe added that Nigeria now offers multiple entry pathways for OEMs, including direct registration, technology transfer partnerships and joint ventures with members of PETAN.
He said the Board is also inviting interested investors to undertake structured due diligence visits to Nigeria to assess facilities, engage verified partners and receive regulatory briefings.
Ogbe stressed that Nigeria’s local content level currently stands at 56 per cent, with a target of 70 per cent by 2027, creating significant room for new investments.
“The gap between those two numbers is precisely where your business belongs,” he said.
He emphasised that with deepwater projects advancing, reforms firmly in place and a growing pipeline of investments, Nigeria is transitioning from an import-dependent market to a competitive destination for industrial production.
“The FIDs are real. The reforms are law. The partners are ready. Nigeria is open for business,” he added.
