• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, May 29, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

NCDMB to host local content investment forum

NCDMB

The Matters Press by The Matters Press
January 29, 2022
Reading Time: 2 mins read
0
NCDMB to host local content investment forum

The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to host the Africa Local Content Investment Forum (ALCIF) to foster sustainable funding of Africa oil and gas projects.

RELATED POSTS

Tinubu explains mission as he marks second year in office

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

The forum is scheduled to hold in Lagos on March 7.

Speaking ahead of the forum, Mr Simbi Wabote, Executive Secretary, NCDMB, in a statement on Saturday said energy transition agenda was posing new challenges to Africa.

This, he said was in its quest to develop without dependence on finance, technology, and manpower from other geographical locations.

Wabote said the forum would provide a platform for African leaders in the oil and gas industry, financial sector, regulators, and regional bodies to meet and shape the industry’s future in Africa amidst energy transition realities.

Wabote stated that the forum would elevate Africa’s indigenous oil producers and national oil companies as the next generation of project producers involved in equity financing of exploration and field development activities.

He said it would also position Africa’s oil and gas service companies as funding blocks for research and development of technology required for exploration and production operations.

He further said that it would position Africa’s financial institutions as providers of debt financing for oil and gas projects.

“The ongoing global energy transition is driving most International Oil Companies (IOCs) to declare commitments to reduce carbon emissions thereby scaling down investments in hydrocarbons development in favour of expanding renewable portfolios.

“Leading global financial institutions are also reducing or eliminating portfolio allocations to oil and gas projects,” he said.

The Board’s sponsorship of the forum is in furtherance of the Nigerian Content 10-Year strategic Roadmap.

This, Wabote said had a key aspiration to promote Local Content across the African continent and ensure access to market for oil and gas capacities that have been developed locally.

He further noted that the Board had consistently provided guidance to several African countries on the implementation of local content policies in their jurisdictions.

According to the organisers, the local content policy which has been implemented successfully in the Nigerian Oil and Gas Industry offers the most appealing economic development models for self-reliant and resilient African economy.

Africa accounts for eight per cent of the world’s hydrocarbon reserves, with an estimated 126.388 billion barrels equivalent.

The continent contributes three per cent of global Gross Domestic Production (GDP) despite having a population of over 1.373 billion people and being the second largest and second-most-populous continent on earth.

Analysts believe that the continent has the human resource base to leverage its hydrocarbon, minerals, and other natural resources to improve its GDP contribution.

Expected at the event are delegates from 18 countries – mostly from the African Petroleum Producers Association (APPO), 140 financial institutions, and 400 participants from around Africa.

The event is being facilitated by the Heritage Times and has its theme as “Developing a Pan African Strategy towards Sustainable Funding of Africa Oil and Gas Projects”.

The ALCIF is a sequel to the First African Local Content Roundtable hosted by the Board in June 2021 at the NCDMB Towers in Yenagoa, Bayelsa State.

Tags: NCDMB
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigerians to own brand new vehicles, goods through new credit scheme initiative
Economy/Technology

Tinubu explains mission as he marks second year in office

May 29, 2025
Chevron, NNPC secure $1.4bn for drilling project
Economy/Technology

Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms

May 26, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

May 24, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
Economy/Technology

Tinubu espouses Nigeria’s unity, diversity at Pope Leo’s inauguration

May 22, 2025
Eulogising Africa’s efforts in midwifing a Covid-19 vaccine
Economy/Technology

Nigeria’s ongoing health reform gets global endorsement with Pate’s honour by Time Magazine

May 21, 2025
Court visits Patience Jonathan’s money palaver
Economy/Technology

Patience Jonathan’s endorsement of Tinubu’s re-election, significant, inspiring

May 20, 2025
Next Post
Nigeria exports 3,991 containers of cocoa beans

Nigeria exports 3,991 containers of cocoa beans

Rice farmers from poverty to wealth

Producers task farmers on rice production

Recommended Stories

TotalEnergies, CNOOC in deal to invest in Uganda’s Lake Albert

TotalEnergies begins production from Ikike crude oil field

July 26, 2022
Eswatini for $140m Afreximbank’s credit

Afreximbank agrees to raise $207m facility with NEXI

March 20, 2022
22 African nations in debt crisis

Improved revenue as panacea to Nigeria’s debt challenge

December 29, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu explains mission as he marks second year in office
  • Increasing oil rigs, a big score for Nigeria’s petroleum sector reforms
  • Pope’s invitation to Tinubu reflects Nigeria’s relevance in global affairs -TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us