The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, Ph.D., has reiterated the Federal Government’s commitment to deepening local content, enhancing in-country value retention, and creating a more robust investment climate for Nigeria’s oil and gas industry.
According to a statement signed by Nneamaka Okafor, Special Assistant on Media and Communications to the Minister, Lokpobiri made these remarks during his address at the recently held Practical Nigerian Content (PNC) Forum organized by the Nigerian Content Development and Monitoring Board (NCDMB) in Bayelsa State.
Speaking at the event themed “Securing Investment, Strengthening Local Content and Scaling Energy Production,” the Minister emphasized the central role of local content in advancing national development. He noted that the local content initiative has empowered indigenous companies to compete effectively across the industry’s value chain. According to him, “local content remains one of the most reliable platforms through which we can retain value within the country, expand local participation, and ensure that Nigerians derive maximum benefit from activities within the oil and gas sector.”
Sen. Lokpobiri also underscored the importance of strict compliance with local content requirements, particularly the mandatory allocation of a specified fraction of employment opportunities exclusively to Nigerians. Such compliance, he said, is vital for job creation, skills development, and stimulating national economic growth.
He acknowledged the strategic role of the NCDMB in driving the implementation of local content policies but reminded the Board of its broader responsibility in promoting an enabling business environment. “The NCDMB must be seen as a facilitator and enabler of business. They are expected to drive investment, support growth, and sustain interventions that promote the full participation of our indigenous companies,” he said.
Highlighting ongoing reforms in the oil and gas sector, the Minister stated that President Bola Ahmed Tinubu’s administration is implementing transformative initiatives to strengthen regulatory frameworks, boost investor confidence, and accelerate the development of new projects. Attracting fresh investments, he maintained, is central to the administration’s economic agenda. “Under the leadership of President Tinubu, we are institutionalizing reforms that will attract investors and reposition our sector for sustainable growth,” he added.
He further explained that prioritizing new projects is crucial as such developments unlock multiple national benefits. “Only with new projects shall we create new jobs, expand local capacity, stimulate ancillary industries, transfer essential technology, and strengthen the resilience of our economy,” he said.
Sen. Lokpobiri reaffirmed the critical mandate of the NCDMB at this pivotal moment in the sector’s evolution and called for collective support from stakeholders to enable the Board to deliver on its responsibilities. “The NCDMB must remain firm on its policies, and every industry player must support the Board in ensuring that the objectives of local content development are fully realized,” he emphasized.
The Minister concluded by reiterating the Federal Government’s commitment to working collaboratively with industry stakeholders to sustain growth, deepen local participation, and secure a prosperous future for Nigeria’s energy sector.