The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Omatsola Ogbe, has reiterated his commitment to enhancing the efficiency of the approval process for oil and gas companies operating in Nigeria. His focus is on streamlining the submission and review of requests and documents to ensure faster project execution, which in turn will drive oil production growth and support the country’s economic development.
Ogbe made this announcement during a strategic meeting with senior management from Chevron Nigeria Limited, headed by Deputy Managing Director Cosmas Iwueze, at the Nigerian Content Tower in Bayelsa State. The objective is to improve the speed and efficiency with which approvals are granted, helping to reduce delays and enhance project delivery timelines.
As part of this initiative, Ogbe proposed the establishment of Technical Working Groups (TWGs) involving NCDMB representatives and key international oil companies. These groups would convene on a monthly or quarterly basis to address issues, align on expectations, and resolve concerns prior to formal submissions. By doing so, Ogbe aims to eliminate bottlenecks and ensure smoother and more timely approval processes.
The goal is not only to accelerate project developments but also to create a more favorable environment for investment and job creation in Nigeria’s oil and gas sector. Ogbe urged oil and gas companies to comply with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and view NCDMB as a supportive partner in driving sector growth. He emphasized that NCDMB is dedicated to minimizing conflicts between international oil companies (IOCs) and the Nigerian government, fostering collaboration, and ultimately boosting foreign investment in the sector. The strategic vision aligns with President Bola Tinubu’s economic goals, which include expanding job opportunities and improving the nation’s economic landscape.
In his response, Cosmas Iwueze praised Ogbe’s collaborative approach and his focus on enhancing Nigeria’s oil production. He stressed that producing oil at competitive costs is essential for both the oil companies and the government to increase production levels and revenue. He also highlighted the need to attract investments to Nigeria’s oil and gas sector, noting that global investors are key to securing capital for major energy projects.
Iweuze pointed out that Nigeria must present itself as a welcoming destination for investment, given the competition for capital from other oil-producing nations. He further revealed that Chevron is currently focused on significant projects, such as deepwater and Escravos gas-to-liquid (EGTL) initiatives, and expressed anticipation for continued support and collaboration from NCDMB as these projects move forward for approval.
