The Nigerian Content Development and Monitoring Board (NCDMB) reports that local content in the nation’s oil and gas sector has climbed to 61%, up from 5% in 2010. During the 2026 Association of Energy Correspondents of Nigeria conference, the board noted that the current strategy is shifting from mere local participation to building globally competitive indigenous firms. The NCDMB is facilitating this transition through enhanced financing, equipment manufacturing, and strategic international partnerships, despite persistent industry hurdles like funding constraints and lengthy approval processes.