NCDMB Unveils Bold Reforms To Attract $10bn Oil Investments At ADIPEC
For Nigeria to attract more international investment into its oil and gas industry, investors must have confidence that projects can move from approval to delivery without unnecessary delays.
The Nigerian Content Development and Monitoring Board (NCDMB) says recent policy reforms and local content initiatives are helping to build that confidence, with more than $10 billion in international oil and gas investments and projects attracted to the country within the past three years.
The Board made this known at the Strategic Leadership Roundtable of the 2026 ADIPEC Energy Conference in Abu Dhabi, United Arab Emirates, where it showcased Nigeria’s investment opportunities and reforms.
NCDMB’s General Manager, Corporate Communications, Dr Obinna Ezeobi, who represented the Executive Secretary, Engr Felix Omatsola Ogbe, said the investments were driven by targeted Executive Orders and strategic incentives introduced by President Bola Tinubu’s administration.
He also credited policy reforms by the NCDMB, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian National Petroleum Company Limited (NNPC Ltd) with improving investor confidence and supporting major Final Investment Decisions (FIDs).
Speaking on the theme, Delivering the Energy the World Needs: Recalibrating Upstream Projects, Ezeobi highlighted the revised Nigerian Content Contracting Guidelines, which have streamlined project approval processes.
He also identified the Nigerian Content Equipment Certificate Guidelines as a major reform designed to eliminate non-performing intermediary companies and allow Original Equipment Manufacturers to provide services directly for deepwater projects.
Ezeobi called on international operating and service companies to explore opportunities in Nigeria, stressing that foreign investment must go hand in hand with stronger local capacity, technology transfer and domestic manufacturing.
He said the NCDMB would continue to support an environment where international investors and Nigerian enterprises could thrive, adding that local companies should be equipped to compete beyond the country’s borders.
The roundtable brought together 21 global industry leaders to examine investment, financing, project delivery and sustainable growth in the energy sector.
Discussions also focused on diversifying upstream financing, accelerating field assessments, improving hydrocarbon recovery and strengthening project delivery.
Beyond the roundtable, the NCDMB operated an exhibition booth at the 2026 ADIPEC Conference, using the platform to explain Nigeria’s local content framework and engage potential investors.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, who visited the booth alongside PETAN Chairman, Engr Wole Ogunsanya, challenged the Board to strengthen collaboration with industry agencies and showcase Nigeria’s oil and gas investment potential at major international conferences.
The Board said the engagements were part of efforts to position Nigeria as a competitive destination for global energy investments.
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