Author: Rareview

....Revamps N50bn Community Contractors Fund By PR The Nigerian Content Development and Monitoring Board (NCDMB) has pledged its full commitment to implementing the recently introduced “Nigeria First” policy, a key directive of President Bola Ahmed Tinubu’s administration aimed at boosting local production and patronage of locally made goods and services, reducing dependence on imported items. The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe made this commitment at the opening ceremony of the ongoing NOG Energy Week in Abuja on Monday. He described the policy as a strong reinforcement of the Board’s core mandate of promoting Nigerian Content in the oil and gas industry. “For Nigeria, energy sufficiency goes beyond availability, it is about...

By PR At the NOG Energy Week in Abuja, industry leaders robustly defended Nigeria’s local content policy, rejecting claims that it inflates business costs in the oil and gas sector. They cautioned that such criticisms jeopardize the nation’s industrial progress and lauded the Nigerian Content Development and Monitoring Board (NCDMB) for its pivotal role in building indigenous capacity and fostering innovation. During a panel session titled “Technology as a Business Strategy”, panellists championed NCDMB’s contributions, emphasizing its success in driving local expertise and technological advancement. Dr. Daere Akobo, Group Chief Executive Officer of Pana Holdings, dismissed critiques of local content as arguing that its benefits to Nigeria’s economy far outweigh any perceived cost...

By Ono Yima Nigeria's upstream oil sector is showing renewed momentum as the number of active oil rigs operating in the country rose to 44 in July, up from 32 in May 2025 — a 37.5% increase. This growth comes amid intensified efforts by the Federal Government to curb oil theft through kinetic and non-kinetic interventions. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), which disclosed this on Tuesday at the NOG Energy Week in Abuja, also revealed that a total of N326.51 billion has been disbursed to 145 Host Community Development Trusts (HCDTs) established under the Petroleum Industry Act (PIA). According to NUPRC Chief Executive, Engr. Gbenga Komolafe, the funds represent the mandatory 3% of oil and gas companies’ operational expenditure (OPEX) and were sourced fr...

By Ono Yima | Abuja The Federal Government has declared an end to the longstanding practice of awarding oil field licenses to companies that fail to develop them, in a bold move to ramp up national crude oil production and meet the country’s 2025 budgetary and OPEC targets.Speaking at the 2025 Nigeria Oil and Gas Energy Week in Abuja, Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, announced that the government would no longer tolerate dormant oil fields and unproductive license holders. “It is no longer acceptable for critical national resources to remain in the hands of companies that lack the technical or financial capacity to optimize them,” Lokpobiri said. “Or worse, those who use such licenses merely as a lever to access scarce capital, only to dive...

By Ono Yima | Abuja Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, has reiterated the Board’s commitment to achieving energy sufficiency in Nigeria through deeper investments in local capacity development.Delivering the welcome address at the 24th edition of the Nigeria Oil and Gas (NOG) Energy Week Conference and Exhibition holding in Abuja, Ogbe emphasized that Nigeria’s energy future rests on its ability to harness and prioritize indigenous resources, capabilities, and enterprises. “Local content is not just a policy, it is a strategic imperative,” Ogbe declared, speaking at the newly renovated Bola Ahmed Tinubu International Conference Centre. The theme of this year’s Nigerian Content Seminar, “Achieving Energy ...

Revamps N50bn Community Contractors Fund Front row, 3rd right: Executive Secretary NCDMB, Engr. Felix Omatsola Ogbe By PR The Nigerian Content Development and Monitoring Board (NCDMB) has pledged its full commitment to implementing the recently introduced “Nigeria First” policy, a key directive of President Bola Ahmed Tinubu’s administration aimed at boosting local production and patronage of locally made goods and services, reducing dependence on imported items. The Executive Secretary of NCDMB, Engr. Felix Omatsola Ogbe made this commitment at the opening ceremony of the ongoing NOG Energy Week in Abuja on Monday. He described the policy as a strong reinforcement of the Board’s core mandate of promoting Nigerian Content in the oil and gas industry. “For Nigeria, energy suf...