Business
NCDMB Targets 70% Local Content In Petroleum Sector
Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Felix Ogbe, has said the Board is targeting 70 per cent Nigerian content in the oil and gas sector by 2027.
The NCDMB boss, who stated this on Tuesday when he visited the facilities of BEAMCO Nigeria Limited in Lagos, commended the oil and gas service firm for its strides in manufacturing equipment components.
He lauded the Nigeria Liquefied Natural Gas Limited, Saipem-Daewoo Joint Venture, and BEAMCO Limited for enhanced in-country value addition.
Ogbe disclosed that locally assembled pumps and valves were set for installation and pre-inauguration preparations on the multibillion-dollar NLNG Train-7 project on Bonny Island, Rivers State.
Speaking at the load-out ceremony at BEAMCO’s facility in Apapa, Lagos, the NCDMB boss noted that the feat of sourcing such vital components in-country was made possible by the Equipment Component Manufacturing Initiative launched by the NCDMB in 2013.
He said the initiative necessitated the issuance of the Nigerian Content Equipment Certificate as a requirement for participation in equipment supply in the oil and gas industry.
According to him, the implementation ensured that NLNG, through its main contractor, Saipem-Daewoo, awarded a contract to BEAMCO for the supply of 17 American Petroleum Institute pumps and 19 control valves in line with NCDMB’s approved vendor list for the NLNG Train-7 project.
He said Nigeria is proud that BEAMCO will be delivering quality pumps and valves on schedule, saying, “This is a demonstration that the Nigerian business environment provides all the enablers to support manufacturing and assembly”.
Ogbe further said the achievements of the company affirmed the position of the recent Presidential Directives on Local Content implementation, which mandates that oil and gas contractors should only be awarded to local companies with established and proven capabilities in-country.
He promised that NCDMB would continue to support BEAMCO to further expand its capabilities to include backward integration in pump and valve components manufacturing in Nigeria.
He also assured purpose-driven companies in the oil and gas subsector, saying, “Together we will achieve more of similar milestones in the industry, as part of our collective commitment to achieve 70 per cent Nigerian Content by 2027″.
Other components and accessories sent forth at the event were four pumps (2 Reflux pumps and 2 Amine booster pumps) and five valves (two Mark 100 valves; one Mark One valve and two flowtop valves).
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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
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