The Nigerian Content Development and Monitoring Board, on Wednesday, announced that local content in the petroleum industry has now reached 56 per cent, with ongoing reviews likely to further enhance this figure. The NCDMB Executive Secretary, Felix Ogbe said this at a press conference to announce the fifth edition of the 2025 Nigerian Oil and Gas Opportunity Fair, scheduled to be held May 21 and 22 in Yenagoa, Bayelsa State. Ogbe stated that the board is focused on attracting new local investments into Nigeria’s oil and gas sector, with expectations for more opportunities arising from the three Presidential directives on the industry. These directives have played a pivotal role in unlocking fresh investments and driving growth in the sector. He said, “We are glad to mention that with our efforts, the level of local content in the oil and gas sector in Nigeria has reached 56 per cent as of the last count we had. The review is ongoing right now to enable us to determine where we are in terms of the percentage of local content we have achieved up to date. So the last count is 56 per cent of local value created.”

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