FG, NCDMB, others push wider access to oil, gas assets

THE Federal Government, the Nigerian Content Development and Monitoring Board (NCDMB) and other industry stakeholders have called for a wider access to oil and gas assets, financing, infrastructure and technology to boost indigenous participation and unlock Nigeria energy potential.

They identified high entry costs, funding constraints, inadequate infrastructure and lengthy approval processes as major obstacles preventing Nigerian companies from acquiring and developing petroleum assets.

The stakeholders spoke at the 2026 Energy Conference of the Association of Energy Correspondents of Nigeria (NAEC) in Lagos, where they called for increased investment, stronger partnerships and improved local capacity to ensure Nigerians capture greater value from the oil and gas industry.

Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, represented by his Senior Technical Adviser, Engineer. Abel Nsa, said access to gas assets should go beyond licences and acreage to include the infrastructure, capital and markets required for development.

He noted that Nigeria’s estimated 215 trillion cubic feet of proven gas reserves would have limited economic value without the capacity to convert them into electricity, industrial feedstock, jobs, revenue and exports.

Ekpo said the Federal Government’s Decade of Gas Initiative was designed to harness the country’s gas resources for industrialisation, power generation, transportation, manufacturing and fertiliser production.

He identified gas-to-power, liquefied natural gas (LNG), liquefied petroleum gas (LPG), compressed natural gas (CNG) and petrochemicals as investment opportunities capable of creating jobs and supporting economic growth.

To address infrastructure gaps, the minister said the government was prioritising the Ajaokuta-Kaduna-Kano (AKK) and OB3 gas pipelines to connect supply sources with major demand centres.

“Infrastructure is the bridge between our resources and the industries, power plants, businesses and households that need them,   he said.

He added that reforms under the Petroleum Industry Act 2021, alongside targeted fiscal and regulatory measures, were intended to improve the investment climate and make gas projects more commercially viable.

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Ekpo called for stronger collaboration among regulators, financial institutions, development partners and private investors to move viable projects from conception to final investment decision and production.

He also urged greater participation by indigenous companies, independent producers, infrastructure developers and technology providers, stressing that the benefits of Nigeria’s gas resources should extend beyond a few major industry players.

Similarly, the NCDMB urged indigenous oil and gas companies to strengthen their technical and financial capabilities to compete in international markets.

The board’s General Manager, Corporate Communications, Dr. Obinna Ezeobi, who represented the NCDMB s Ogbe, said the conference theme, “Access to Assets: Empowering Players and Driving Growth,   aligned with the objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

He said the Nigerian Content 10-Year Strategic Roadmap, launched in 2017, set a target of raising local content participation to 70 per cent by 2027.

Ezeobi said local content participation had grown from five per cent in 2010 to 61 per cent, but further progress would depend on strengthening indigenous companies’ capacity and competitiveness.

He disclosed that more than 130 indigenous companies had accessed over $400 million through the Nigerian Content Intervention Fund, domiciled with the Bank of Industry and NEXIM Bank.

Other initiatives include Project 100, the Nigerian Content Equipment Certification (NCEC), the Nigerian Oil and Gas Parks Scheme (NOGaPS) and vendor development programmes, which support local businesses through financing, capacity building, equipment development and market opportunities.

NAEC`s Chairman, Ugo Amadi, identified high entry costs, funding difficulties and lengthy approval processes as major barriers facing indigenous companies seeking to acquire and develop oil and gas assets.

He called for reforms that would create more opportunities for local businesses to participate in asset ownership and development.

The Chairman of the Petroleum Technology Association of Nigeria (PETAN), Engr. Wole Ogunsanya, advocated consolidation and stronger collaboration among indigenous oilfield service companies.

He said pooling technical expertise and resources would enable local firms to execute larger and more complex projects beyond the capacity of individual businesses.

The Conference Chairman and Group Managing Director of Sahara Power Enterprise Group, Mr. Kola Adesina, represented by Head of Corporate Communications, Bethel Obioma, said access should extend beyond physical assets to include capital, technology, partnerships and markets.

“Access is actually much greater and more important than assets,   he said, highlighting the importance of ideas and mentorship in building competitive businesses.