The Nigerian Content Development and Monitoring Board (NCDMB) signed a Memorandum of Understanding (MoU) with the Petroleum Commission of Ghana (PCG) on Wednesday, aiming to enhance local content regulations in Ghana’s upstream petroleum sector. The signing occurred during the 2024 Annual Local Content Conference and Exhibition in Takoradi, Ghana.
The three-year MoU focuses on fostering synergies through information sharing and skill transfer, benefiting both parties. Under its terms, the NCDMB will provide strategic advice to the PCG in areas such as legislative frameworks, knowledge exchange, baseline studies, data collection on existing capacities, and the design of a strategic plan for local content implementation in Ghana.
The agreement aims to promote collaboration, leverage global experiences, and advance knowledge, thereby supporting local content development in the upstream petroleum sector. Additionally, the NCDMB will assist in formulating regulations and policies for the PCG’s local content laws.
The MoU was signed on behalf of the NCDMB by Executive Secretary Felix Ogbe, represented by Director of Monitoring and Evaluation Abdulmalik Halilu and Director of Legal Services Naboth Onyesoh. Mr. Egbert Fabille, Executive Secretary/CEO of the PCG, and acting General Counsel Nana Akua Agyei signed on behalf of their organization.
This new agreement builds on a similar one signed in February 2022 with Senegal’s National Content Monitoring Committee, aimed at developing local content strategies in the Senegalese oil and gas sector.
During the conference, Ogbe encouraged African oil and gas service companies to collaborate and leverage their unique strengths to sustainably grow local content, aligning with the goals of the African Continental Free Trade Area. He praised the cooperative spirit among African nations, stating, “This event underscores our commitment to strategic partnerships and sustainable growth in our sector.”
Addressing the conference theme, “Attracting E&P Investments to Boost Local Content: New Pathways,” Ogbe emphasized the need for innovative approaches and collaboration to unlock Africa’s hydrocarbon resources, estimated at over 125 billion barrels, representing about 10 percent of global reserves.
Ogbe also highlighted NCDMB’s role as a business enabler, promoting the development of an efficient indigenous supply chain and competitive service delivery in the oil and gas industry. He noted significant progress in local content development, with levels rising from less than 5 percent in 2010 to 54 percent in 2023, attributing this growth to the NOGICD Act and strong collaboration among industry stakeholders.
Established in 2010 by the Nigerian Oil and Gas Industry Content Development Act, the NCDMB is responsible for monitoring, guiding, and promoting local content practices in Nigeria’s oil and gas sector. The PCG, founded in 2011 under the Petroleum Commission Act, regulates and manages the utilization of petroleum resources in Ghana’s upstream sector.
