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NOGICD Act, Not Weakened by Presidential Orders on Oil Sector – NCDMB

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NCDMB Emerges Best MDA In Ease Of Doing Business Ranking

The three Executive Orders issued by President Bola Ahmed Tinubu on the Oil and Gas Industry in March 2024 did not erode the relevance of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act on the operations of the oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB) has said.

This was one of key messages from the Local Content Masterclass and panel discussion, held on Monday at the African Energy Week, which started in Cape Town, South Africa. Discussions at the panel highlighted Nigeria’s local content’s milestones and processes, provided local lessons for other African oil and gas producing countries, clarified misconceptions, as well as positioned Nigeria’s oil and gas industry for investment.

The panelists included the Director Capacity Building, Engr. Abayomi Bamidele, General Manager Monitoring and Evaluation, Mr. Silas Omomehin Ajimijaye, and General Manager, Nigerian Content Development Fund (NCDF), Ms. Fateemah Mohammed, and the session was moderated by the General Manager Corporate Communications, NCDMB, Dr. Obinna Ezeobi.

Giving insight into the Presidential Directives, Engr. Bamidele observed that some oil and gas stakeholders grossly misinterpreted the Presidential Directives to mean that the NOGICD Act had been relegated or sidestepped and they no longer need to comply with the provisions of the law. “The Special Adviser to the President on Energy had to clarify that the Presidential Directives did not set aside local content. They only mandated that existing capacities must be patronized and middlemen must be excluded from the contracting process.”

The three Executive Orders are the Presidential Directive on Local Content Compliance, Presidential Directive on Reduction of Petroleum Sector Contracting Cost and Timelines and Presidential Directive on Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.

Bamidele confirmed that NCDMB had streamlined its contracting strategies to align with the Presidential Directives, collapsed its touchpoints in the contract approval process from 9 to 5, thereby contributing to the shortening the industry’s contracting cycle, reduction of the cost of projects and catalysing new oil and gas projects from operating oil and gas companies.

He announced that qualified international service companies can now be awarded the Nigerian Content Equipment Certificates (NCEC), to facilitate their direct participation in deepwater operations in the Nigerian oil and gas industry, as provided in the NOGICD Act. This policy will attract investments into the sector, and is consistent with the Presidential Directives, he explained.

On Board’s strategy for capacity development for new oil and gas projects, he said plans are afoot to conduct trainings in skill areas that are in a high demand in the sector. He underlined the need to always streamline capacity building initiatives with requirements and changing dynamics in the industry.

The Board is also committed to developing critical infrastructure such as the Brass Island Shipyard with support of the NLNG, as well as completing and operationalizing the Nigerian Oil and Gas Parks at Odukpani, Cross River State and Emeyal-1 in Bayelsa State, he hinted.

Counselling sister Africa countries, Engr. Bamidele noted that local content and capacity building strategies must be country-specific, and policy makers must understand the mindset and skillsets of their nationals. He further advised that local content policies and capacity building models must be relevant and applicable to the host country’s technological, educational and manpower capacities.

While making his comments, the General Manager Monitoring and Evaluation, Mr. Silas Omomehin Ajimijaye outlined the robust mechanism the Board deploys in monitoring companies’ execution of oil and gas projects, ensuring compliance with the provisions of the NOGICD Act, and retaining significant value in the economy.

On the impact of divestment of oil and gas assets on Nigerian content compliance, he stated that the transfer of assets to indigenous operators had not impacted negatively on compliance. This is because the Board sustained the compliance protocols it had established with the previous owners. However, the Board, is ready to support successor companies to navigate challenges they might have with compliance, he added.

Speaking further Ajimijaye highlighted the importance of robust research and development initiatives to achieving sustainable local content development. He indicated that NCDMB had developed an R&D roadmap and collaborates regularly with operating companies, service firms, the academia, and other relevant institutions.

Currently, NCDMB has established six centers of excellence in key universities across six zones of the country, while Research and Development Fund has been deployed to support commercialization of viable projects, with 15 research ideas and inventions currently supported to ensure their successful development, he added.

In her contributions, the General Manager, NCDF, Fateemah Mohammed explained that the Nigerian Content Intervention Fund is a dedicated finance scheme that provides single digit financing to Nigerian service companies, enabling them to grow capacities and play key roles in the oil and gas industry.

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Giving insight into the seven products of the NCI Fund, she dwelt on the Community Contractors Fund, which is a N50bn finance scheme designed for contractors in local communities, whereby they can assess up to N100 million, at single digit to execute contracts in the oil and gas industry and grow the local economy. Another unique product is the US$20m Women in Oil and Gas Intervention Fund managed by Nigeria-Export-Import Bank, for deepening the capacities and capabilities of women entrepreneurs and industrialists to fully participate in the Nigerian oil and gas industry.

Recommending similar funding schemes to other African countries, Mohammed disclosed NCDMB’s aspiration to grow the NCI Fund and collaborate with other financial institutions to unlock larger projects and enhance skills development of the populace.

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Energy

IEA Puts UAE’s Oil Output at 5.3mbpd for September

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Oil output from the United Arab Emirates (UAE) rose to record levels in September, underscoring its resilience even amidst the Middle East crises and liberation from OPEC+ limits.

The International Energy Agency (IEA) issued the data in its monthly report, adding that Abu Dhabi raised total oil production, including condensates, by 400,000 bpd to 5.3 MMbpd.

According to the IEA, the UAE bolstered crude output to more than 4.4 MMbpd, nearing its maximum capacity, which surpasses the previous highs for total oil in August, and crude oil in June.

READ ALSO: Africa’s Energy Security Conversations Pull Industry Executives Together

The UAE has been one of the most successful among regional producers in restoring flows through the Strait of Hormuz, by drawing on a fleet of tankers to discreetly shuttle cargoes through the chokepoint and then transfer them onto other vessels. In addition, the country’s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) as of May has freed it from the group’s output caps, a source of frustration for years.

Its gains contributed to a wider recovery in flows from Gulf producers, which reached more than 75% of pre-war levels in September, led by Saudi Arabia, according to the Paris-based IEA.

Still, it’s unclear how far the regional rebound has withstood a new wave of Iranian attacks on tankers transiting Hormuz, and escalating hostilities carried out by the Houthi rebel faction in Yemen.

The UAE depleted its observable above-ground inventories at a record pace of more than 270,000 bpd in September, drawing them to an all-time low, according to the IEA.

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Energy

Africa’s Energy Security Conversations Pull Industry Executives Together

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Africa’s gas potential and strengthening the continent’s energy security would take centre stage at the Africa Interviews Sustainability Forum (AISF 2026) scheduled for Wednesday, October 21, in Lagos.

Biztellers reports that top officials of Oando Plc and Renaissance Africa Energy Company Limited, Ayotola Jagun and Tony Attah, respectively, will be leading other industry leaders in the discussion.

Jagun, Oando’s Executive Director, Chief Corporate Services and Sustainability Officer, and Attah, Managing Director and Chief Executive Officer of Renaissance Africa Energy Company Limited, will participate in a panel discussion alongside Lamé Verre of Lean In Equity & Sustainability (LiNES) and Dapo Filani, Managing Director and Chief Executive Officer of Waltersmith.

The panel will examine Africa’s energy security and the role of natural gas in the continent’s energy transition.

READ ALSO: 30 Nigerians Bag Postgraduate Scholarship from NNPC Ltd, Eni

The forum, launched in 2024, is holding its third edition under the theme, “Energy Security and Africa’s Energy Transition: Defining the Role of Gas.”

This year’s gathering will explore how African countries can strengthen energy security, attract investment in gas development and balance growing energy demand with sustainability objectives.

Verre, a London-based energy and sustainability executive, is Co-founder and Chair of the Advisory Board of LiNES. She will bring her international experience in sustainability, decarbonisation and low-carbon development to the discussion. Her work spans low-carbon initiatives across sectors, including marine, the built environment, forestry, land and agriculture.

Jagun brings extensive experience in corporate governance, regulatory compliance, enterprise risk management and sustainability. Her contribution will provide a corporate sustainability and governance perspective on the relationship between energy development, environmental responsibility and Africa’s transition priorities.

Attah, a former Managing Director and Chief Executive Officer of Nigeria LNG Limited, has extensive experience in the oil and gas industry, particularly in natural gas development and major energy operations.

Filani leads Waltersmith, an indigenous Nigerian energy company with interests across the oil and gas value chain. His participation will highlight the role of indigenous energy companies in strengthening domestic energy capacity and supporting economic development.

The panel will consider what is required to unlock greater investment in Africa’s gas sector, how natural gas can support industrial growth while advancing sustainability, and what practical measures could help translate the continent’s energy ambitions into tangible outcomes.

Beyond the panel discussion, AISF 2026 will provide opportunities for engagement among senior energy executives, policymakers, investors and business leaders.

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Energy

Middle East Push, G7’s Strategic Reserve Release Arrest Oil Prices

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Oil prices on Monday went south, after crude exports from the Middle East rose above pre-war levels, while the Group of Seven nations pledged to release 100 million barrels of crude and diesel from emergency reserves.

Brent crude futures fell by $1.20, or 1.17 percent, to $101.05 a barrel, while West Texas Intermediate crude declined by $1.16, or 1.27 percent, to $89.95 per barrel, according to Reuters.

Middle Eastern crude exports exceeded pre-war levels on four of the seven days in the final week of September, shipping data showed, despite attacks on vessels passing through the strategic Strait of Hormuz.

The increase in exports, combined with the G7’s planned release of emergency stocks, helped put downward pressure on crude prices.

The G7 countries agreed on Friday to release 100 million barrels of diesel and crude from emergency reserves and pledged to refrain from energy export restrictions following pressure from United States President Donald Trump.

READ ALSO: Ndindi Nyoro Gives Ruto 14 Days to Disclose Dangote Refinery Deal

However, the scale of the additional supply remained uncertain.

IEA Executive Director, Fatih Birol, said last week that member countries had already released about two-thirds of the 400-million-barrel volume.

Meanwhile, supply concerns remained elevated as fighting continued across parts of the Middle East.

Saudi Aramco Chief Executive Officer, Amin Nasser, also warned that crude oil and refined fuel supplies were expected to remain stretched.

He said rebuilding global stockpiles after emergency withdrawals could take two years.

The United States Strategic Petroleum Reserve fell to 283 million barrels last week, its lowest level since October 1982, according to data from the US Department of Energy.

The supply outlook was further complicated by the continuing conflict involving Saudi Arabia and Iran-backed Houthi forces in Yemen.

Yemeni government forces attacked Houthi positions in the Dhubab district overlooking the Bab el-Mandeb Strait on Monday, according to two military sources.

The development came a day after the internationally recognised government launched a campaign to retake Houthi-held territory.

Meanwhile, OPEC+ postponed a review that would determine its 2027 oil output quotas after the war involving Iran disrupted projects aimed at expanding production capacity across the Middle East.

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