FIC REPORT (BAYELSA STATE) – The Nigerian oil and gas industry has attracted more than $10 billion in investments and projects within the last three years, the Nigerian Content Development and Monitoring Board (NCDMB) has disclosed.
The Board attributed the investment growth to policy reforms, strategic incentives and stronger engagement with industry stakeholders, which it said had boosted investor confidence and positioned Nigeria as a competitive destination for energy investments.
The disclosure was made by the General Manager, Corporate Communications, NCDMB, Dr Obinna Ezeobi, at a Strategic Leadership Roundtable Briefing during the 2026 ADIPEC Energy Conference in Abu Dhabi, United Arab Emirates.
Ezeobi, who represented the Executive Secretary of NCDMB, Engr Felix Omatsola Ogbe, said the reforms had helped unlock major Final Investment Decisions (FIDs) and advance critical oil and gas projects across the country.
He identified policy initiatives introduced by President Bola Ahmed Tinubu’s administration, alongside reforms by NCDMB, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd), as key drivers of the investment gains.
According to him, NCDMB’s revised Nigerian Content Contracting Guidelines and Nigerian Content Equipment Certificate (NCEC) Guidelines were designed to remove operational bottlenecks, simplify project approvals and eliminate non-performing intermediary companies.
He explained that the new guidelines would also enable Original Equipment Manufacturers to provide services directly for deepwater projects, improving efficiency and reducing delays in project execution.
The NCDMB spokesman called on international oil companies and service providers to take advantage of emerging opportunities in Nigeria, assuring them of the Board’s commitment to creating an enabling environment for investment, local manufacturing, technology transfer and indigenous enterprise development.
The roundtable, themed “Delivering the Energy the World Needs: Recalibrating Upstream Projects,” brought together 21 global industry leaders to examine investment opportunities, project financing, operational efficiency and sustainable growth in the upstream sector.
The Nigerian delegation included the Managing Director of NNPC E&P Limited, Nicolas Foucart, and the Managing Director of NNPC 18 Operating Limited, Ibiyemi Asaolu.
Beyond the roundtable, NCDMB leveraged its exhibition stand at the 2026 ADIPEC Conference to showcase Nigeria’s local content achievements, engage international investors and explain the country’s local content regulatory framework.
Among the notable visitors to the Board’s exhibition stand were the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, and the Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr Wole Ogunsanya.
Lokpobiri urged NCDMB to collaborate with relevant government agencies to establish a prominent Nigerian presence at major international oil and gas conferences, noting that such platforms would strengthen the country’s visibility and showcase its potential as an investment destination.
Ighovojah Gloria Afure
Principal Information Officer
FIC Yenagoa, Bayelsa
6th November 2026
