The Nigerian Content Development and Monitoring Board (NCDMB) today hosted one of its most memorable knowledge-sharing platforms yet, the 2025 Business Mentorship Lecture Series, featuring Prof. Emmanuel Ibe Kachikwu, former Minister of State for Petroleum Resources, past Group Managing Director of the NNPC, and ex-OPEC President.
The session, titled “A Reflection on Nigeria’s Oil Journey and Future Pathways,” drew a diverse audience of entrepreneurs, students, regulators, and young professionals eager to glean insights from one of Nigeria’s most influential voices in the energy sector.
Tracing the Oil Journey: From Oloibiri to Global Stage
In his presentation, Kachikwu offered a sweeping historical narrative of Nigeria’s oil and gas sector. From the discovery of oil in Oloibiri in 1956 and the first barrels of production in 1958, to the oil boom of the 1970s that elevated Nigeria to Africa’s largest producer and an influential OPEC member, he reminded the audience of oil’s defining impact on the country’s economic and political destiny.
“Oil gave Nigeria power and visibility on the global stage,” he said, “but it also sowed the seeds of dependence. We allowed hydrocarbons to overshadow agriculture, manufacturing, and innovation.”
He recounted how massive inflows of petrodollars financed roads, schools, and hospitals, but simultaneously entrenched corruption, rent-seeking governance, and economic mismanagement.
The Burden of Oil and the Call for Reform
Kachikwu reflected candidly on the paradox of Nigeria’s oil wealth: vast revenues flowed, yet poverty and underdevelopment persisted. “We are a country that has earned trillions of dollars from oil, but our people still face energy poverty, insecurity, and joblessness,” he observed.
Looking at the present, he noted that crude oil production has declined sharply since 2015, dropping below 1.4 million barrels per day due to pipeline vandalism, oil theft, underinvestment, and the global shift toward renewable energy. He cautioned that Nigeria stands at a “critical inflection point” and must undertake bold reforms to remain relevant in a decarbonising world.
His Role in Shaping Local Content
A major highlight of the lecture was Kachikwu’s reflection on local content development, the very mandate of the NCDMB. As Minister, he championed the Nigerian Content Intervention Fund, grew indigenous participation in oil contracts from below 5% pre-2010 to over 30% by 2020, and pushed for in-country fabrication and modular refinery initiatives.
“Local content was not a slogan. It was a tool for empowerment, industrialisation, and national pride,” he stressed. “What we did with NCDMB was to open doors for Nigerians to own their place in oil and gas.”
He commended the Board for sustaining the Business Mentorship Series, describing it as a critical platform for “passing the torch” to young entrepreneurs, engineers, and policymakers who will define the sector’s future.
Inspiration for the Next Generation
Beyond policy, the session was a reflection of Kachikwu’s personal journey—from a first-class law graduate of the University of Nigeria, Nsukka, to Harvard Law School, to global roles at ExxonMobil and finally as Nigeria’s oil minister and OPEC President. He shared lessons on resilience, integrity, and vision, urging young professionals to see energy not just as barrels and dollars but as an instrument of national survival and social responsibility.
“The oil industry is not only about wealth,” he said. “It is about the welfare of communities, the dignity of host regions, and the environment we will leave for future generations.”
He encouraged participants to adopt lifelong learning, embrace adaptability in the era of energy transition, and cultivate the values of tenacity and integrity. Drawing inspiration from global figures such as Nelson Mandela, Elon Musk, Aliko Dangote, and Wole Soyinka, he urged them to “aim not just for success but for significance.”
NCDMB’s Role in the Future
The NCDMB, through initiatives such as the mentorship lecture series, continues to position itself as a bridge between industry veterans and emerging talent. By hosting leaders like Kachikwu, the Board reinforces its mandate of building capacity, promoting Nigerian participation, and preparing the workforce for both petroleum and post-petroleum futures.
As the session concluded with resounding applause, the audience was left with more than just a history lesson. They received a roadmap for the future — a call to courage, reform, and responsibility.
For Prof. Ibe Kachikwu, the oil and gas sector has been a stage for service, reform, and inspiration. For the NCDMB, the mentorship series remains a beacon of continuity, ensuring that the wisdom of yesterday fuels the innovation of tomorrow.
At the intersection of memory and mentorship, Nigeria’s oil journey continues not just in barrels, but in minds ready to transform the nation.
@2025 The Ameh News: All Rights Reserved
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