NCDMB says local content in Nigeria’s oil and gas sector reaches 61%
The board reported a rise from 5% in 2010 to 61% after 16 years and said more than 130 companies accessed its intervention fund.
Event / data period: 2026-10-08
Published: · Updated:
The Nigerian Content Development and Monitoring Board (NCDMB) called for greater access to assets, finance, technology and markets so indigenous oil and gas companies can compete internationally. In a statement published on October 12, the board said the appeal was made at the Association of Energy Correspondents of Nigeria conference in Lagos on October 8.
The board said local content in the industry had risen from 5% in 2010 to 61% after 16 years of implementing the Nigerian Oil and Gas Industry Content Development Act. It also said the 10-year roadmap launched in 2017 sets a 70% participation target for 2027, while more than 130 indigenous firms had accessed over US$400 million through the Nigerian Content Intervention Fund. The 2027 figure is a target, not a reported achievement.
Data
Local-content figures reported by NCDMB
Historical shares, fund access and a future target in NCDMB’s October 12, 2026 conference statement.
- Local content participation, 2010
- 5 %
- 2010 · Observed
- Local content participation, after 16 years
- 61 %
- 2026-10-08 · Observed
- Roadmap target for 2027
- 70 %
- 2027 · Target
- Lower bound of indigenous firms accessing the fund
- ≥130 companies
- 2026-10-08 · Observed
- Lower bound of fund amount accessed by firms
- ≥400 million USD
- 2026-10-08 · Observed
Methodology
Figures are reported from the board’s own statement. The 2027 share is a target; the announcement provides no methodology or independent verification.
Updated:
Subjects and places
Subject proposals
- Oil and gasSuggested
- Subject suggested from the title or summary: oil and gasncdmb.gov.ng ↗
Geographic references
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- Nigeria · Place role: Coverage · Place type: Country or area · Location precision: RegionalEvidence
- Explicit preserved editorial country/region; no city or national centroid inferredncdmb.gov.ng ↗