The Nigerian Content Development and Monitoring Board (NCDMB) has concluded a two-week Oil and Gas Logistics and SMEs Readiness Development Programme for 120 youths and indigenous businesses in Bayelsa State.

Biztellers reports that the training is aimed at equipping the beneficiaries with the skills, industry knowledge and compliance requirements needed to compete effectively in Nigeria’s oil and gas sector.

The programme, implemented by Tenacles Resource Limited, combined a five-day online orientation with intensive physical training in Yenagoa, exposing participants to opportunities across the oil and gas value chain while preparing them to meet industry standards.

During the closing ceremony on Saturday in Yenagoa, the Executive Director of Tenacles Resource Limited, Tonye Briggs, explained that the initiative was designed to empower youths, entrepreneurs and indigenous businesses from oil-producing communities and other parts of Bayelsa State to become active players in the country’s petroleum industry.

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Briggs explained that the programme commenced with an online screening and orientation phase that introduced participants to the objectives of the training and the expectations of the NCDMB.

According to him, the online sessions focused on engagement with operators in the oil and gas sector, regulatory compliance, logistics and inventory management, and an overview of Nigeria’s petroleum industry.

He noted that the physical training built on the online sessions by providing practical knowledge on oil and gas logistics, inventory management, registration on the Nigerian Oil and Gas Industry Content Joint Qualification System and NipeX portals, as well as the compliance standards required to participate in the industry.

According to Briggs, participants also took part in a business competition in which three outstanding businesses were selected to receive support in obtaining the compliance documents required for sustainable participation in the sector.

He added that all participants were registered on the NCDMB portal and would benefit from a four-month mentorship and coaching programme that would expose them to job vacancies, business opportunities and industry updates.

“We have been implementing a two-week Oil and Gas Logistics and SMEs Readiness Development Programme on behalf of the NCDMB to empower youths and indigenous businesses from Bayelsa State.

“The participants have been equipped with knowledge on engaging operators, meeting compliance standards and identifying opportunities within the logistics and inventory space.

“We have also registered them on the NCDMB portal and established a four-month coaching platform to expose them to opportunities and support their growth”, Briggs said.

Briggs commended the Executive Secretary of the NCDMB, Felix Ogbe, for sustaining initiatives that promote indigenous participation in Nigeria’s oil and gas industry, expressing confidence that similar programmes would benefit more Nigerians across the country.

Delivering the keynote address, the Permanent Secretary, Bayelsa State Ministry of Labour, Employment and Productivity, Edmund Dagogo, urged participants to maximise the opportunity provided by the training by applying the knowledge acquired to build sustainable businesses and careers within the oil and gas sector.

He commended the collaboration between the NCDMB, Tenacles Resource Limited and the Bayelsa State Government, noting that the programme would help increase local participation in the nation’s petroleum industry.

Participants described the training as transformational, saying it changed their perception of opportunities available in the oil and gas sector.

One of the participants, Miss Douye Jumbo, said the programme broadened her understanding of the Nigerian Oil and Gas Industry Content Development Act, 2010, and dispelled the notion that only multinational companies could participate in the industry.

Another participant, Excellent David Siri, described the programme as an eye-opener, noting that it demonstrated that opportunities in the oil and gas sector extend beyond technical professions.

Siri, a pipeline welder specialising in Shielded Metal Arc Welding, said artisans, traders and entrepreneurs could also participate in the industry’s supply chain, provided they possessed relevant skills, operated legitimate businesses and met regulatory requirements.

At the closing ceremony, participants received certificates, laptops and mentorship support to facilitate their registration on the NOGIC JQS platform and enhance the practical application of the knowledge gained during the training.

The programme forms part of the NCDMB’s broader strategy to strengthen local content development by building the capacity of youths and indigenous businesses in oil-producing communities, enabling them to participate more competitively in Nigeria’s oil and gas value chain.

FirstBank and its lending allies are now at the risk of escalating financial penalties because of the collapse of their attempt to reassign the ongoing Nestoil and Neconde matter.

The compounded legal and financial risks from the matter could rise to a whopping $1.8 billion damages claim against the consortium of lenders.

The setback comes on the heels of a Supreme Court judgment that dealt a significant blow to the lenders’ litigation strategy.

In its decision in Neconde Energy Ltd. v. FBNQuest Merchant Bank Ltd & Ors., the apex court rejected efforts that sought to halt proceedings and questioned the motives behind attempts to delay a case originally initiated by the lenders themselves.

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Relying on that judgment, the Honourable Chief Judge reportedly dismissed the application for reassignment, finding no basis to remove the trial judge. The decision has effectively shut the door on what critics described as an attempt to derail the proceedings.

With that strategy defeated, attention is now shifting to the potentially enormous consequences facing the banks.

Nestoil and Neconde are commencing the process of pursuing approximately $1.8 billion in damages against FBNQuest Merchant Bank, First Trustees, FirstBank, UBA, Access Bank, Zenith Bank, the Receiver-Manager and other parties over alleged disruption of oil production operations.

The companies are expected to contend that actions taken by the lenders and their Receiver severely impaired production activities, causing output to fall from about 60,000 barrels per day to below 40,000 barrels per day, while also disrupting critical drilling and field development programmes.

Industry observers note that if successfully pursued, the claim could rank among the most significant damages actions arising from a commercial banking dispute in Nigeria’s oil and gas sector.

Adding to the mounting legal pressure, Drawcok Estate Limited has already filed a N100 billion damages suit against FBNQuest Merchant Bank, First Trustees, the Receiver-Manager and others over the alleged wrongful takeover and occupation of its Victoria Island properties.

The growing wave of litigation marks a dramatic reversal in fortunes for the lenders. What began as an aggressive debt recovery exercise is increasingly exposing the banks themselves to substantial legal liability, with claims now running into billions of dollars and tens of billions of naira.

As the Supreme Court’s criticism continues to reverberate through the proceedings, the failed reassignment bid may ultimately be remembered as the moment the dispute shifted from an enforcement action against Nestoil to a potentially costly reckoning for the banks behind it.

A member of the Ogun State House of Assembly representing Ijebu North I Constituency, Rasheed Kashamu, has declared that President Bola Ahmed Tinubu deserves another four years in office, insisting that the administration’s economic reforms are beginning to produce tangible results and should not be abandoned midway.

Kashamu, son of the late Senator Buruji Kashamu and a chieftain of the All Progressives Congress (APC), threw his weight behind Tinubu’s expected 2027 re-election bid in a statement issued on Sunday.

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According to the lawmaker, President Tinubu took office at one of the most difficult periods in Nigeria’s history, inheriting deep-rooted economic and structural challenges that had built up over the years.

He said rather than postponing difficult decisions, the President opted for bold reforms aimed at repositioning the country’s economy for long-term growth.

“The journey of rebuilding any nation is never an overnight exercise. President Bola Ahmed Tinubu inherited enormous economic and structural challenges that accumulated over several years, yet he chose the difficult path of reforms rather than the easy path of postponing problems.

“Today, the indicators are gradually showing that those courageous decisions are beginning to produce positive outcomes. What the country requires now is continuity, consistency and sustained leadership to fully harvest the gains of these reforms,” Kashamu said.

He maintained that policies such as the unification of the foreign exchange market, fiscal discipline, revenue expansion and efforts to attract local and foreign investments have strengthened Nigeria’s economic outlook and boosted investor confidence.

Kashamu also applauded the Federal Government’s aggressive infrastructure drive, pointing to flagship projects including the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway and the Abuja-Kaduna-Zaria-Kano Road.

He added that ongoing investments in rail transportation and inland dry ports would improve connectivity, reduce transportation costs and stimulate economic activities across the country.

The lawmaker further praised the Tinubu administration’s interventions in agriculture, saying increased support for mechanised farming, dry-season cultivation, improved seedlings and fertiliser distribution would enhance food production, reduce dependence on imports and create jobs for thousands of Nigerians.

On education, he described the Nigerian Education Loan Fund (NELFUND) as a game-changing initiative that has expanded access to tertiary education for students who previously struggled to finance their studies.

Kashamu also commended the administration’s focus on youth empowerment through entrepreneurship, innovation, digital skills and vocational training.

“Our youths represent the greatest asset of this nation. President Tinubu understands this reality and continues to create opportunities that empower them through education, entrepreneurship, innovation and access to finance,” he said.

He equally hailed reforms in the health sector, including efforts to strengthen primary healthcare, improve access to essential medicines, upgrade medical facilities and expand health insurance coverage.

While acknowledging that insecurity remains a major concern, Kashamu said the Federal Government has intensified efforts to tackle terrorism, banditry, kidnapping and other violent crimes through enhanced intelligence gathering, improved collaboration among security agencies and increased investment in military hardware.

He stressed that continuity in leadership would enable the current administration to consolidate its reforms and deliver greater economic and developmental benefits to Nigerians.