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Senate Committee, NCDMB Hold Inaugural Meeting, To Collaborate On Local Content Implementation

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The Senate Committee on Local Content on Wednesday held the first interactive session with the leadership of the Nigerian Content Development and Monitoring Board (NCDMB) at the Senate Building at Abuja and resolved to collaborate and deepen the implementation of local content in the oil and gas industry and linkage sectors.

The Chairman of the Committee, Senator Natasha Akpoti-Uduaghan moderated the meeting and assured that the committee would not antagonize the Board and other entities under its supervision but would collaborate towards effective implementation of the Board’s mandate for the benefit of Nigerians.

She expressed concern over the parlous state of the economy, particularly the alarming level of unemployment which has fuelled an increase in criminality.

She emphasised the need to deepen the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD Act, to create employment opportunities from the activities in the oil industry and catalyse other sectors of the economy.

She requested the Board to submits performance reports on the implementation of the NOGICD Act, specifically on the Board’s third-party investments, capacity building programmes, expatriate quota management and research and development.

She also requested the Board to recommend sections of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act that needed to be amended by the National Assembly.

Other questions raised by the committee concerned the status of the Nigerian Content Development Fund (NCDF) and the performance of the Nigerian Content Intervention Fund (NCI Fund).

The Committee Chair criticised the international oil companies (IOCs) in Nigeria for not investing in the petrochemical sub-sector and other associated manufacturing activities, whereas IOCs in other oil producing jurisdictions make such investments and contribute significantly to those economies.

She announced that the committee would invite the IOCs and other relevant agencies of Government, with a view to compel the companies to create tangible value in the Nigerian economy beyond the extraction and sale of crude oil.

She said, “We need to get them around the table and tell them what we want as a country as against watching them export crude oil only.”

In his comments, the Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe thanked the committee for adopting a cooperative approach and assured that the Board would provide all the requested documentations and partner effectively, to achieve the mandate of the committee and that of the Board.

On the Board’s performance, the Executive Secretary stated that the Nigerian Content level for 2022 and 2023 stood at 54 percent and the Board is on course to accomplish the 70 percent target for 2027, as set in the Nigerian Content roadmap.

On international oil companies’ model of operation in Nigeria, the Executive Secretary explained that most oil conglomerates have different arms, which includes the downstream companies which make such investments in the petrochemical and linkage sub-sectors.

He, however, noted that most operating companies in Nigeria do not have such subsidiaries in the country, hinting that the Board is willing to support indigenous firms that are interested in such ventures.

He added that the Board lacked the mandate to compel the IOCs to change their business model in Nigeria but was collaborating with some oil companies to develop the Nigerian Oil and Gas Parks Scheme (NOGaPs), which is designed to manufacture oil and gas equipment and components as well as other manufacturing and research and technology programmes.

The Director Finance and Personnel Management, NCDMB, Dr. Obinna Ofili provided clarity on the performance of the Nigerian Content Intervention Fund (NCI Fund) and the Nigerian Content Development Fund (NCDF).

He explained that the NCI Fund is managed by the Bank of Industry (BoI) on behalf of the Board, and US$300m was deposited with the BOI.

He clarified that the NCI Fund is a portion of the NCDF – which is pooled from the 1% percent of every contract awarded in the upstream sector of the Nigerian oil and gas industry, as specified in section 104 of the NOGICD Act.

He also revealed that BoI had loaned out US$330m to 70 qualified oil and gas companies, with the additional $30m accruing from the interests from the loans. He mentioned that another Fund created by the NCDMB is the US$50m domiciled with the Nigerian Export-Import Bank and it is broken into $30m for working capital and capacity building and $20m for Women in Oil and Gas.

Dr. Ofili indicated that eight firms have accessed the $30m working capital and capacity building fund, while three firms have successfully accessed the Women in oil and gas fund.

He said, “We want serious minded women entrepreneurs in the oil and gas industry to step forward and access this fund. That is the only way it can make impact in the economy.”

The Director asserted that the NCI Fund is the most successful fund scheme in the country, basing his assessment on the faithful repairment by the beneficiaries and the growth of the fund.

He mentioned that the Bank of Industry carries out quarterly project monitoring on the loan beneficiaries, while the NCDMB holds an annual monitoring review on the fund scheme and beneficiaries.

On the proposed amendment of the NOGICD Act, the Director Monitoring and Evaluation, Mr. Abdulmalik Halilu explained that concerted efforts were made during the tenure of the 9th National Assembly to review the legislation and the Board developed a compendium on areas that it believed should be amended. He promised that the Board would submit the compendium to the Senate so it could become the reference point for further discussions and considerations.

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NUPRC Dangles 40 Oil Blocks Before Global Investors at ADIPEC

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The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has invited global investors to participate in the bid for the 2026 Licensing Round, which has 40 oil and gas blocks on offer.

The Commission Chief Executive, Oritsemeyiwa Eyesan, informed investors at the 2026 ADIPEC Exhibition and Conference in Abu Dhabi on Monday, November 2, 2026 that Nigeria offers a stable climate amid global energy tensions.

She urged investors to look to Nigeria and take advantage of the opportunities and revealed that the licensing round portal will officially open on November 20, 2026.

READ ALSO: OPEC+ Retains Output at 30.9mbpd

The NUPRC boss said this during a roundtable discussion titled, ‘Energy Sovereignty in an Interconnected World: Aligning National Priorities, Markets and Global Security’.

She said, “We are expecting investors to turn to Nigeria. We are going into another licensing round, and we will launch our bid portal on November 20. We expect to see interested investors because the environment is a lot more competitive.

“We have set a very attractive fiscal framework for investors. The overall environment is much more secure. We have been able to manage costs with a lot of incentives for investors, and we expect to see investors take up the offer when we open the portal.”

The NUPRC boss noted that since the passing of the Petroleum Industry Act in 2021, as well as the executive orders signed by President Bola Tinubu, Nigeria has seen an improved investment climate.

Eyesan said that between 2021 and 2026, the NUPRC held at least four successful licensing rounds, which brought more investment into the country.

This marks a departure from the pre-PIA era, when licensing rounds were less frequent.

The CCE said Nigeria has huge energy potential, as it sits on 215 TCF of gas, but daily production is barely 7 bcf.

This presents an opportunity to investors, especially as key gas infrastructure, such as pipelines, is being built, she said. The stars are already aligned. For gas infrastructure, we just completed very major infrastructure projects that will unlock gas supply in the country and the sub-region.”

We have two major projects on the drawing board to move gas through the Nigeria-Morocco Atlantic Gas Pipeline and the Trans-Sahara Gas Pipeline.

Again, this gas will go to Europe and will also meet regional demand. So, Nigeria is positioned to meet not just domestic supply,” the CCE stated.

Eyesan maintained that as many countries discover petroleum resources, the race for investment has become more competitive.

She said Nigeria was already ahead of the game, as it had made certain modifications to attract the right capital.

“We understand that investors will prize execution risk, cost, delays and also uncertainty, and so what we have done in Nigeria is to ensure that we guard against these risks and then attract the investment required to enable us to unlock the huge resources we sit on,” the NUPRC boss said.

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‘Becoming Nigeria’s President Is a Divine Blessing’ – Tinubu

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President Bola Ahmed Tinubu has described his emergence as Nigeria’s President as a special favour from Almighty Allah, saying his position as Commander-in-Chief of the Armed Forces is a privilege that must be matched with dedicated service to the country.

Tinubu made the remarks while reflecting on his spiritual journey to Saudi Arabia for the lesser Hajj (Umrah), during which he was granted access to pray inside the Holy Ka’abah in Makkah.

The President expressed gratitude to Saudi Arabia’s King Salman bin Abdulaziz Al Saud and Crown Prince Mohammed bin Salman for granting him and members of his Nigerian delegation the rare privilege.

SEE MORE: APC Defends Tinubu Over Electricity Promise, Says President Is Tackling Sector’s Challenges

Speaking after the spiritual exercise, Tinubu said his emergence as Nigeria’s leader was an extraordinary blessing, considering the millions of people in the country.

“I have faith in that, and I believe extremely well that He has done me and my country a great favour. Out of many millions of people, to be the President and Commander-in-Chief is a favour that only Almighty God can do to a human being,” he said.

The President also disclosed that he used the opportunity to pray for wisdom and resilience to continue serving Nigerians, expressing confidence that his prayers had been answered.

“Well, I asked for wisdom and resilience to continue to serve the people. I know that prayer has been granted,” Tinubu said.

Recalling his previous Umrah pilgrimage before the 2023 presidential election, he said he had asked Allah to bless the journey and promised to return to express gratitude.

Tinubu also reflected on the message in Surah Aal-Imran, Verse 26 of the Holy Qur’an, which establishes Allah as the ultimate owner of sovereignty and authority, with the power to give and take leadership.

He said the message reinforces the need for those entrusted with positions of authority to exercise power responsibly, with humility and in the interest of the people.

“There is no other God but Almighty Allah. He is the giver and the taker. He owns power and authority,” the President said.

He reaffirmed his commitment to building a prosperous Nigeria, investing in the future of young Nigerians and pursuing development in line with the aspirations of the people.

Tinubu described the opportunity to enter the Holy Ka’abah as a historic and deeply cherished spiritual experience, adding that it reflected the longstanding friendship and cooperation between Nigeria and Saudi Arabia.

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Ogun Police Win Public Safety Award as Ojajuni Emerges NUJ Golden Jubilee Ambassador

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The Ogun State Police Command has received three major honours at the Nigeria Union of Journalists (NUJ), Ogun State Council’s Golden Jubilee Press Week, with Commissioner of Police Bode Ojajuni named a Golden Jubilee Ambassador.

The Command received the Shield of Public Safety Award, while its Police Public Relations Officer, DSP Oluseyi Babaseyi, was presented with the Vanguard of Public Safety Award.

The recognition formed part of activities marking the 50th anniversary of the NUJ in Ogun State, which coincides with the state’s 50th anniversary.

SEE ALSO: Oyo Police Arrest Suspected Serial Burglar, Recover Stolen Items Worth ₦16.2m

According to a statement released on Monday, November 2, 2026, by the Command’s spokesperson, DSP Babaseyi, the awards recognised the Command’s commitment to public safety, proactive policing and effective engagement with the media.

The Golden Jubilee Press Week, held from October 26 to November 1, 2026, was themed, “Truth, Trust and the Press: Protecting Democratic Choice and Rebuilding Public Confidence in Journalism.”

Ojajuni also participated in a panel session during the celebration, where he urged journalists to uphold truth, professional ethics and patriotism, stressing the importance of responsible journalism to national development and public confidence in public institutions.

While receiving the Shield of Public Safety Award, the police commissioner attributed the Command’s achievements, particularly the impact of Operation KOSAYE, to the strategic direction of the Inspector-General of Police, IGP Olatunji Rilwan Disu, under the Handshake Patrol initiative.

He explained that the operation was carried out on the directive of the IGP through collaboration between the Ogun and Lagos State Police Commands, with support from the governors of both states.

According to him, the initiative strengthened security cooperation between the two states and improved coordinated efforts to prevent and combat criminal activities.

Ojajuni was also named among 50 distinguished personalities recognised as Golden Jubilee Ambassadors.

The honour reflects his leadership and previous contributions to policing in Ogun State, where he served as Deputy Commissioner of Police in charge of the State Criminal Investigation Department and Squadron Commander of the 16 Police Mobile Force, Abeokuta, before becoming commissioner.

Similarly, Babaseyi received the Vanguard of Public Safety Award in recognition of his contributions to police-public communication, media engagement and public safety advocacy.

The commissioner dedicated the honours to the Inspector-General of Police and officers of the Nigeria Police Force, acknowledging their commitment and sacrifices in protecting lives and property.

The Command also commended the NUJ Ogun State Council, led by its chairman, Comrade Wale Olanrewaju, for the recognition and its role in promoting constructive engagement between journalists and security institutions.

It reaffirmed its commitment to strengthening its relationship with the media, noting that effective policing depends not only on operational deployment but also on public trust, timely information and stakeholder engagement.

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