Saturday, April 18, 2026
29.8 C
Lagos

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

Business

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

BOOK REVIEW: Personal Cost Control Strategies

  Author: Festus Abiodun Adebisi Publisher: Maximax Inc. Reviewer: Goke Ilesanmi Many people...

The Swift Ascendant Lands in Abuja: Martell’s Monumental Journey of Audacity Reaches the FCT

After kicking off in Lagos, Martell’s nationwide campaign, Martell...

PR Industry Leaders Hail Adejumoh’s Book, Advocate Strategic Shift in Practice

L-R: Chief Yomi Badejo-Okusanya (YBO), Chairman, Board of the...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

NGX Group Commends Happy Woman Digital Platform Initiative, Seeks Partnership

Being text of the speech by Alhaji (Dr.) Umaru...

Nigeria’s Reforms Driving Strong Domestic Capital Mobilisation, Says NGX Group CEO

The Group Managing Director/Chief Executive Officer of Nigerian Exchange...

NGX Group, IFC, CSCS, WIMBIZ Convene Leaders to Advance Gender Equality at 2026 Ring the Bell Ceremony

Nigerian Exchange Group Plc (NGX Group), in collaboration with...

Insurance

NIA to Honour Past Governing Council Members

The Nigerian Insurers Association (NIA) is pleased to announce...

Nigeria Hosts 1st ECOWAS Brown Card Zonal Meeting 2026 in Lagos

‎The Commissioner for Insurance, National Insurance Commission, Mr. Olusegun...

Heirs Insurance Group, United Capital Partner on Self-Care, Wealth Event for Ambitious Women

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, and United...

NAICOM Pledges Commitment to Labour Standards, Staff Welfare

The National Insurance Commission (NAICOM) reaffirms its strong commitment...

Nigeria Showcases Local Content Success Story at 2025 Namibia Conference

Nigeria’s local content successes in the oil and gas industry was a constant reference point in discussions at the opening day of the 2025 Namibia Oil and Gas Conference, which began on Tuesday at Windhoek, Namibia.

The event is being attended by policymakers, international oil and gas operating and service companies, Namibian indigenous players and other stakeholders. The goal is to enhance the local content ecosystem in the Southern African country’s evolving oil and gas industry.

The Nigerian Content Development and Monitoring Board (NCDMB) and the Petroleum Technology Association of Nigeria (PETAN) are participating at the Namibian event in furtherance of their collaboration in the promotion of African local content, creation of opportunities and new markets for Nigerian oil and gas companies.

The Board’s delegation is led by the Executive Secretary, Engr. Felix Omatsola Ogbe, represented by the Director, Corporate Services, Dr. Abdulmalik Halilu, while the PETAN team is led by its chairman and member of NCDMB Governing Council, Mr. Wole Ogunsanya.

Halilu delivered a presentation at the Local Content Masterclass at the opening, and outlined a number of strategies that African oil producing countries can adopt to grow their local content capabilities.

According to him, local content value proposition for Africa includes research and technology development, local employment, strategic partnerships, ownership and control of assets, value chain optimisation, sustainable operations, increase production and utilisation of locally made goods and contribution to Gross Domestic Product (GDP).

He identified government’s role in supplier development as regulatory, developmental and promotional.

Using Nigeria as a case study, Halilu listed key achievements of NCDMB to include the establishment of world class fabrication and construction yards, human capital development, manufacturing initiative, service sector growth, financial support and establishment of integration capability for floating production and storage and offloading facility (FPSO).

On the new wave of local content development in Nigeria, the Director pointed to the promotion of equipment assembly and components manufacturing, development of small and medium enterprises, enforcement of research and development and technology transfer as well as prioritization of gas-based industrialisation.

Dwelling on strategies that would support the growth of African local content, he urged oil-producing countries to specialise in different manufacturing and service areas of the oil and gas industry and develop their competencies to the right specifications. This will enable the countries to trade among themselves and contribute towards the manufacturing of complex oil and gas equipment.

He cited an example with the Boeing aircraft, which has critical components produced by different original equipment manufacturers (OEMs) and assembled at a designated factory. Such a model, he noted, will ensure that each African country develops a competitive advantage and can contribute effectively to the African oil and gas industry.

The representative of the Executive Secretary concluded by offering local content nuggets, which include that local content implementation is not a sprint but a marathon and must be executed as a business and not as corporate social responsibility. Local content must also be cost effective and local peculiarities must be given key considerations, he noted.

Other recommendations include that local content regulations must apply to all players in the industry and not only foreign companies or expatriates and the implementation takes time, consistency, and coordination. He equally suggested that capacity building initiatives should include grassroots and underserved communities, adding that local content practice would not grow if new projects are not developed.

He ended by assuring the audience that Nigeria is ready to partner with Namibia and other African nations to build an energy sector that empower the African people and drive shared prosperity.

The opening day also featured a presentation by NCDMB’s General Manager, Human Capacity Development, Esueme Dan Kikile, Esq. He further shared the Board’s success stories in human capital development.

The conference continues till Friday and is expected to feature another presentation by the NCDMB boss while one of the panel discussions would feature the Chairman of PETAN, Mr. Wole Ogunsanya.

 

 

 

Hot this week

Guinness Nigeria: N1tn Market Capitalisation Signals Strong Investor Confidence, Sustained Value Creation

Guinness Nigeria Plc has achieved a landmark milestone, surpassing...

Stanbic IBTC Asset Management Bags Top Asset Management Award 2026 by Global Banking & Finance Review

In a noteworthy achievement in Nigeria's asset management landscape,...

Tinubu Assents to N68.32tn Appropriation Bill, 2025 Budget Extension

President Bola Ahmed Tinubu has assented to the 2026...

Nationwide Voting Platform Empowers Consumers to Rate Brands, Public Institutions Based on Real Value, Trust, Service Delivery

  https://consumervalue.vercel.app/nominate In a bold step to deepen consumer voice and...

PenOp Appoints Anthonia Okoro as Chief Executive Officer

Pension Fund Operators Association of Nigeria is pleased to...

Topics

NIVEA Educates Nigerian Students on Personal Hygiene with SABI Campaign

Leading personal care brand, NIVEA has rounded off the...

INEC Publishes Notice of Anambra State Governorship Election Nov 6

The Independent National Electoral Commission (INEC) held its regular...

Business Journal Newspaper Public Presentation Set for Sept 16

The public presentation of Business Journal Newspaper will on...

Rand Merchant Bank Seeks Public Education on Financial Inclusion

The Chief Operating Officer of Rand Merchant Bank Nigeria...

Ecobank Vital to Needbank’s African Growth Strategy

South Africa’s Nedbank says that Ecobank Transnational Incorporation (ETI)...

Air Cote d’Ivoire to Commence Abuja Flights from February 1

Air Côte d’Ivoire just announced that direct flights from...

Sterling Leads Charge in Revolutionising Africa’s Agric Value Chain

L-R: Managing Director Sterling Bank, Mr. Abubakar Suleiman; Keynote...

Life Expectancy in Africa

Nigeria Health Statistics Total population 158,423,000 Gross national income per capita (PPP...
Exit mobile version