The Nigerian Content Development and Monitoring Board (NCDMB) has reaffirmed its goal of achieving 70% local content in the Nigerian oil and gas industry by 2027, building on notable gains recorded in 2024. With just one year remaining, the question now arises: what level of local content has Nigeria actually achieved as of 2026?
In 2024, NCDMB reported unprecedented progress, with local firms significantly increasing their participation across upstream, midstream, and downstream operations. Strategic reforms, capacity-building programs, and stricter compliance measures created opportunities for indigenous companies to expand their footprint in technical execution, procurement, and workforce development.
Economist Celestine Ukpong weighed in on the current scenario: “The 2024 milestones were promising, but as we enter 2026, it’s critical to measure actual progress. Are Nigerian companies scaling fast enough to reach the 70% target? Achieving this will require accelerated investments in local capacity, technology, and human capital.”
Financial expert Peter Adebayo, FCA, highlighted the economic stakes. “Local content isn’t just a regulatory number. It’s about maximizing economic value, creating jobs, and improving governance in the sector. Companies must now double down on compliance and innovation to meet the 2027 target.”
While official 2026 figures are still being finalized, early indicators suggest that Nigeria has made steady progress but must accelerate efforts to hit the ambitious 70% mark. Stakeholders, including government agencies, multinational operators, and indigenous firms, are being called upon to deepen collaboration, strengthen supply chains, and prioritize technology transfer partnerships.
Reflecting on the reforms introduced in 2024—enhanced licensing guidelines, compliance monitoring, and workforce development initiatives—industry observers say that Nigeria is on a promising path, yet the clock is ticking. The coming year will be critical for bridging the remaining gap and ensuring that the local content target does not remain aspirational.
As the 2027 deadline approaches, the overarching message is clear: invest strategically in local capacity, enforce compliance, and build an ecosystem where Nigerian expertise thrives alongside global standards. The lessons from 2024 and the ongoing progress in 2026 demonstrate that, with concerted effort, the 70% goal is within reach.
NCDMB targets 70% local content in Nigeria’s oil and gas sector by 2027. With 2026 underway, experts Celestine Ukpong and Peter Adebayo assess current progress and remaining challenges.
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